Chennai, Feb 21 - Car manufacturer Ford India Friday announced price reduction on its five models following a reduction in the excise duty, said the company.

In a statement, Ford India said price of Figo has been reduced up to Rs. 23,399, while price of Classic was curtailed up to Rs. 24,056.

EcoSport will cost around Rs. 25,947 cheaper. Fiesta and Endeavour will offer benefits up to Rs. 32,961 and Rs. 1,06,753 respectively.

"Reduction of excise duty is a welcome step for the automotive industry and is timely with de-growth the industry is currently witnessing," Vinay Piparsania, executive director, marketing, sales and service was quoted as saying in the statement.

"We hope it will have a positive impact on consumer sentiment and stimulate pent up demand," the statement said. (IANS)