MRF again reducing prices

The leading car company of India - MRF has again decided to reduce the prices of its various models. The reduction in the price range may go down by nearly Rs400 per tyre in the truck tyre segment. This time the reduction in the prices has been done due to the reduction in the excise duty by the central government. It has come to the notice that this time the MRF group is the first one to react so fast with this reduction in prices. The company also went with the step of reducing the car prices previous month also when were noticed the ad valorem excise duty cuts on the CENVAT that being nearly 4%. According to the company officials the reduction in the car prices has helped the company to perform better even the harsh economic slowdowns which might have affected the company's performance. Moreover the officials from MRF believes that its the reduction in the crude oil prices and in that of natural rubber which has initiated the tyre industry to prove itself to be a big hit in the market.