Honda Motorcycle & Scooter India (HMSI) and Hero MotoCorp have both announced price cuts on their two-wheeler range, following the 4 percent cut in excise duty from 12 to 8 percent. HMSI, in a statement, has said that it is passing on the full benefit of the 4 percent excise duty reduction across India with immediate effect. The price benefit to the Honda customer ranges from a minimum of Rs 1,600 on the Dream Neo commuter bike going up to Rs 7,600 on the CBR 250R sports bike.
Meanwhile, Hero MotoCorp has also announced its price cut. The company said, “We have decided to pass on the entire benefit of the excise duty cut to our customers. We have judiciously spread out the price cut across our product portfolio ranging from 2 percent going up to 5 percent with the maximum reduction being Rs 4,500.”