The recent announcement in the excise duty hike had received opposition from all corners of the two wheeler market as this will enforce the companies to increase the price of their products and gradually to the reduction in the sales.
Most of the auto majors have announced price hike on their product range and now one of the major two-wheeler and three-wheeler maker TVS Motor Company has reportedly hiked prices of its vehicles following the excise duty increase announced in the Budget.
According to reports, the company stated that it is the policy of the company to pass on the excise duty increase or decrease to the customer. Accordingly, in this case the increase has been passed on. The company, however, did not give more details.
The excise duty was increased to 12 per cent from 10 per cent previously. Several four-wheeler makers have already announced price hikes on their offerings.
Rate this News :