DSK Hyosung cuts prices by up to Rs 20,000

Superbike maker DSK Hyosung has cut prices across its product portfolio by up to Rs 20,000 after excise duty on automobiles was reduced in the Interim Budget.

"We are happy to announce a ex-showroom price reduction from Rs 4,000-Rs 20,000 across our entire product portfolio," DSK Hyosung Chairman Shirish Kulkarni said in a statement.

The company is sure that the reduction will stimulate the growth in the sector and improve market sentiments, he added.

Established in 2012, DSK Hyosung is a partnership between India's DSK Group and Korea's Hyosung.

The company sells various superbike models including Aquila 250 and ST 7 in the country, priced between Rs 2.69 lakh and Rs 5.99 lakh.

Other two-wheeler makers, TVS Motor Company, Yamaha, Hero MotoCorp and Honda Motorcycle and Scooter India (HMSI) have also announced price cuts after the excise duty cut.

In the Interim Budget 2014-15, Finance Minister P Chidambaram had announced reduction of excise duty on small cars, scooters, motorcycles and commercial vehicles to 8 per cent from 12 per cent earlier; 24 per cent from 30 per cent on SUVs; 24 per cent from 27 per cent on large cars; 20 per cent from 24 per cent in mid sized cars.