Auto makers Tata Motors and General Motors India on Monday announced they will cut prices of their products after Finance Minister P Chidambaram decided to reduce excise on automobiles in the interim Budget 2014-15.
Move to be aimed at reducing subsidies on the fuel.
Asked if it is looking at the Maruti 800 and the Chevrolet Spark segment, Nigel E Wark, executive director, marketing, sales and service, Ford India, said: "Yes, we will be launching the small car in this segment broadly, but there are sub-segments and this is where we will differentiate ourselves. We will be competing in the largest volume segment. India and China are the two markets where small cars are in huge demand and we will be focusing on these countries."
Every year, carmakers announce at the end of November or December their plans to increase prices of their vehicles by January.
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