VE Commercial Vehicles passes on CenVAT cut benefit
VE Commercial Vehicles, a joint venture between Eicher Motors and Volvo , has slashed prices of its commercial vehicles by up to Rs two lakh, passing on the benefit from the recent 4% reduction in CenVAT. Depending on the model, prices on Volvo trucks have been reduced by Rs 1.25-2.0 lakh, while prices on Eicher trucks have been cut by Rs 16,000-37,000.
'VECV welcomes the decision of the central government to reduce CENVAT and petroleum prices to boost the demand for commercial vehicles. However, the most critical factor in the current business environment that needs to be addressed is the availability of credit with competitive rates of interest,' says Somnath Bhattacharjee, Vice-President (Sales & Marketing), VECV.
[Via: indiaautomotive]