HM Shifeng Winner LCV gets a price cut

India’s own automotive major Hindustan Motors has announced yet another price cut. The maker of the popular Ambassador has reduced prices of its light commercial vehicle HM Shifeng Winner. The move follows close on the heels of the government’s stimulus package, which specifies a two percent reduction in excise duty cut.

The HM Shifeng Winner LCV, which is a 2.3 tonne mini truck, will now cost less with the company deciding to pass on the benefits of the excise duty reduction of 2 per cent to its customers. It has been reported that the company would reduce price on an average by Rs 7,000 per vehicle. The automajor currently sells the HM Shifeng Winner LCV for a price of Rs 3.90 lakh ex-showroom. The price cut is expected to come into effect immediately.

Significantly, Hindustan Motors which follows the policy of one India one price, will sell HM Shifeng Winner at an approximate Rs.3.83 lakh. This apart, it will also pass on the duty cut benefit on castings and forgings that it supplies to the original equipment makers. This would also mean that prices of spare parts will also come down following this.

The excise duty cut will have a positive impact on the sales to the taxi sector. This because the 10 per cent excise duty refund would now go up to 12 per cent. Hindustan Motors feels that it was only right to respond to the government’s stimulus package by passing on the full benefits from the excise duty cut to its customers.

It is expcted that the HM’s move would be helpful in boosting demand. Meanwhile, it has already been reproted that Hindustan Motors is also mulling over making a foray into the manufacture of automobile components. Forgings, castings and stampings are on the anvil from the HM facility at Uttarpara .