Apollo Tyres Ltd today decided to pass on the benefits of the lower excise duty to its customers with effect from the midnight of February 25, 2009. This lowering of prices will be applicable to all commercial radial and cross ply tyres.
The company has taken this decision on the heels of the announcement made today by the Government, where excise duty on a range of consumer products has been brought down by 2%. Post a 4% reduction in excise by the Government, tyres attracted a duty of 10%. Now, this has been further reduced to 8%.
Speaking on the move, Onkar S Kanwar, Chairman & Managing Director, Apollo Tyres Ltd, said: “We should all support this proactive move by the government, which will boost the manufacturing as well as other sectors. We, on our part, will be passing on this reduction to our customers.”
As mentioned earlier, the reduced pricing will come into play with immediate effect for replacement customers.
source: www.apollotyres.com
The company has taken this decision on the heels of the announcement made today by the Government, where excise duty on a range of consumer products has been brought down by 2%. Post a 4% reduction in excise by the Government, tyres attracted a duty of 10%. Now, this has been further reduced to 8%.
Speaking on the move, Onkar S Kanwar, Chairman & Managing Director, Apollo Tyres Ltd, said: “We should all support this proactive move by the government, which will boost the manufacturing as well as other sectors. We, on our part, will be passing on this reduction to our customers.”
As mentioned earlier, the reduced pricing will come into play with immediate effect for replacement customers.
source: www.apollotyres.com
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