REUTERS – Ashok Leyland Ltd (ASOK.NS) has reduced the prices of its commercial vehicles by 1 percent with immediate affect, the automaker said in a statement, after a recent decrease in excise duty on chassis by the same amount.
The government cut excise duty on commercial vehicle chassis to 14 percent this week.
Ashok Leyland, India’s second-largest truck and bus manufacturer, raised its prices by 5 percent after the excise duty was raised by that amount in the federal budget in March.
(Reporting by Henry Foy in MUMBAI; editing by Malini Menon)
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