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The recent petrol price hike by Rs 7.50 has led car makers, Maruthi, Tata, Hundai and others to slash prices of petrol vehicle by as much as Rs 50,000.
Car makers across the spectrum have viewed that the impact of fuel price hike would be severe as the market is already in the doldrums of low sales. The slashing of prices of petrol run cars is said to improve sales.
Source: Financial Express