Tata,Ashok Leyland cut truck prices

Leading truck and bus makers,Tata Motors and Ashok Leyland,said on Wednesday they had cut prices following a 2 percentage point reduction in excise duty.

“We are passing on the full benefits of the excise duty reduction,” a spokesman for Ashok Leyland said,adding this would bring prices down on average by slightly more than 16,000 rupees ($321) per vehicle.

On Tuesday,the government reduced central excise duty to 8 per cent from 10 per cent and trimmed tax rates on services to 10 per cent from 12 per cent.

Tata Motors,India’s largest vehicle maker,has reduced truck prices,a spokeswoman said but did not give details.