Maruti Suzuki Cuts Prices as Indian Market Falls

Maruti Suzuki India Ltd., India’s largest carmaker, is trimming prices 2% on 10 models in a bid to revive slumping sales.

The company, which controls half the Indian market, says its 5,000-rupee ($70) reductions will apply to 10 models. Maruti Suzuki describes the modest cut as its first in more than five years.

The discount was prompted by a government decision late last week to drop its effective corporate tax rate five points to 25%.

The move is the latest in a series of stimulus measures to help revive India’s sagging economy. New car sales in the country have lagged year-earlier volumes since last November.