For the second time in two days, Maruti Suzuki cut the ex-showroom price of Baleno RS, one of the company's popular models, by Rs 1 lakh in a bid to woo new buyers just ahead of the festival season.
— CNBC-TV18 (@CNBCTV18Live) September 27, 2019
The model now starts at a price of Rs 7,88,913 (ex-showroom Delhi).
Maruti Suzuki had positioned the Baleno RS as a 'high-performance' hatchback powered by a 1.0 litre booster jet petrol engine, which delivers 20 percent more power than a naturally aspirated 1.2 litre petrol engine.
The automakers expect that the forthcoming festivals of Navratri and Diwali will revive vehicle sales.
Recently, Finance Minister Nirmala Sitharaman had cut corporate tax to 22 percent from 30 percent for all domestic companies in a bid to boost the slow economy after the country's Gross Domestic Product (GDP) fizzled to a six-year low of 5 percent in the April-June quarter.
On Wednesday, Maruti Suzuki reduced the prices of select models by Rs 5,000 (on ex-showroom prices).
These models include all variants of Alto 800, Alto K10, Swift Diesel, Celerio, Baleno Diesel, Ignis, Dzire Diesel, Tour S Diesel, Vitara Brezza and S-Cross.
In a regulatory filing, Maruti Suzuki said that along with the above reduction, it has also reduced the ex-showroom price of Baleno RS by Rs 1 lakh, reported PTI.
These models are priced in the range of Rs 2.93 lakh and Rs 11.49 lakh. The new prices will be applicable from 25 September 2019, across the country.
This reduction of price will be over and above the current promotional offers for the company's vehicle range, the company said.
The company said it is optimistic that the price reduction will bring down the cost of acquisition, especially for the entry-level customers.
— With PTI inputs
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Updated Date: Sep 27, 2019 16:08:26 IST