Tata Motors, India’s largest automobile company, has slashed Passenger vehicles (PV) prices by Rs 6300 -Rs 69000 & Commercial vehicles (CV) prices by Rs 15,000-Rs 1.5 lakh. This development comes after government announced a cut in excise duty in the vote on account. In the interim Budget 2014-15, while the excise duty for small cars, scooters, motorcycles and commercial vehicles was cut to 8% from 12%, it was slashed to 24% from 30% for SUVs. Besides, excise duty on large cars too, were reduced to 24% compared with 27% earlier.
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