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American niche bike maker Indian Motorcycle slashed prices of its models in India by up to ₹3 lakh on Wednesday following reduction in customs duty. The government last month slashed customs duty on imported high-end bikes to 50%.
Earlier, import of motorcycles with engine capacity of 800cc or less used to attract 60% duty, while those with capacity of 800cc or more attracted 75% duty. "We are glad that the government has rationalised the import duty structure to 50% across the range for imported bikes. The new attractive price of our products available in India will definitely lead to more sales," Polaris India Pvt Ltd MD and Country Head Pankaj Dubey said.
Indian Motorcycle is a wholly-owned division of Polaris Industries Inc, America's first motorcycle company. While the price of the Chieftain model has been cut by ₹2.99 lakh to ₹32,01,000, Vintage model's price has been reduced by ₹2.67 lakh to ₹25,32,500. Similarly, price of Roadmaster has been slashed by ₹2,01,000 to ₹39,99,000. Price of Scout Sixty model has been cut by ₹1.89 lakh to ₹10,99,500. Classic model will now be available at ₹21,29,500, after reduction of ₹1,70,499.
The company, which imports all of its products in India from the US, currently has nine models in its line-up.