New Delhi/Mumbai, February 26: The excise duty hike in the Budget has had an immediate impact on the auto sector with major auto-makers, including Tata Motors, Maruti Suzuki, Hyundai, Honda and General Motors, announcing plans to hike prices of vehicles by up to Rs 41,000.
Two-wheeler makers like Hero Honda and TVS Motors also followed suit by announcing rise in prices of their models.
The country’s largest auto-maker Tata Motors said it will increase prices of its vehicles following the increase in excise duty to 10 per cent, its managing director for domestic operations PM Telang told reporters on the sidelines of its Q3 results announcement in Mumbai today
–Agencies