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Daewoo to pay nine per cent interest for delay in Matiz delivery

The recently unveiled Matiz Deluxe SD (ex-factory price Rs 285,963) has topped Daewoo Motors India's booking list since order taking for the new stripped down versions commenced on April 12.

This was followed by the Matiz Deluxe and Matiz Standard which are priced at Rs 285,963 and Rs 250,778 respectively.

The company said orders for the stripped down versions of the 796 cc Matiz have increased. So DMI has decided to pay an interest of nine per cent per annum on the booking amount for delayed deliveries.

The interest would be payable from the eighth day of the payment by the consumer to DMI till the date of despatch of the car from the factory, the company said.

With the consumer traffic increasing, waiting period is likely to become longer in some cases, it admitted.

Delivery of the car would commence in the first week of May 1999, except the super premium model -- SP -- which will be launched later.

The base SS version of the car comes without an air-conditioner while the SD version offers air-conditioner and a stereo system. The SE variant will have power windows and a central door lock and a music system.

The high-end version of the car -- Matiz Premium SP -- is the fully loaded version with power steering, rear window defogger, rear wiper and a roof rail and has been priced at Rs 346,148.

UNI

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