TNI Bureau: As the government hiked the petrol prices by Rs 7.50 per litre, the car companies went into a panic mode and slashed the prices of the petrol models, while some others held off the production.

After the steep hike in petrol prices, the small and sedan models of petrol version will have no takers. People prefer to reject the petrol cars because of high petrol prices and low fuel efficiency.

The Tata Motors and Hyundai Motors have already announced discounts of up to Rs 50,000 on their some petrol cars for a limited period. Still, there is no increase in their sale.

Maruti has also come up with Rs 30,000 discount on its Alto model. Since Alto is considered as the most fuel efficient car in small car segment, Maruti expects to boost its sales by making this announcement.