Maruti Udyog Ltd on Tuesday slashed prices of two variants of one of its highest-selling cars, Alto by Rs 23,167 (ex-showroom Delhi).
With this, the Alto LX and LXi models would now cost Rs 2,65,013 and Rs 2,84,756 respectively, a company statement said.
Maruti expects the price cut to help buyers of its entry-model Maruti 800 to upgrade to Alto.
The company had posted a 50 per cent growth in sales of the car during April-August 2003, which it hopes to increase further with the latest reduction in price.
"Our strategy is that the new prices, together with cheap and convenient car finance options, will make Alto a very attractive option for a large number of first time car buyers as well as customers who wish to upgrade from a Maruti 800," a Maruti spokesman said.
Maruti, a subsidiary of Japan's Suzuki Motor Corp, also produces the compact cars Zen and WagonR besides six other passenger vehicles at its plant in Gurgaon, Haryana.
