Planning to buy a car? Now is the perfect time
Although the festive season has come to an end, carmakers in India are still providing heavy discounts and benefits to lure buyers. The move is part of their strategy to clear unsold stock at dealerships by the end of the year, an industry insider said to Moneycontrol. Original equipment manufacturers (OEMs) are likely to dispatch around 3.25-3.3 lakh units of passenger vehicles (PVs) in November, a tad lower than last year's figure.
Dealerships grapple with high inventories amid robust production
The Federation of Auto Dealers Association (FADA) revealed that despite carmakers ramping up production, auto retailers across India were stuck with a 75-80-day inventory worth ₹75,000 crore earlier this month. This has pushed the season of discounts beyond the festive days till the end of December. Puneet Gupta from S&P Global Mobility observed that abnormally high dealer inventories have led to aggressive price cuts and huge discounts from OEMs.
Maruti Suzuki offering discounts on popular models
Maruti Suzuki is offering a discount of ₹20,000-₹35,000 on the Alto K10, WagonR, Celerio and the S-Presso. The Swift is available with a rebate of ₹25,000-₹50,000, while the Brezza comes with a discount of ₹10,000-₹20,000. These offers are in addition to an exchange bonus of ₹15,000 and corporate discounts ranging from ₹2,100 to ₹2,300 depending on the model.
Hyundai and Tata Motors join discount race
Hyundai is giving a discount of ₹35,000-₹45,000 on its Grand i10 Nios and up to ₹70,000 on the Verna. Tata Motors is providing a cash discount of ₹25,000 and ₹20,000 on the Altroz and Punch (ICE version), respectively. Along with these, customers exchanging their old vehicles can avail a trade-in discount of up to ₹20,000 and corporate discounts of up to ₹3,000 on select models.
Mahindra announces limited offers
Mahindra is providing limited discounts on select variants of a few models. It offers a cash discount of up to ₹70,000 on Bolero Neo, ₹50,000 on Scorpio N, and ₹1.25 lakh on Thar 4x4. The XUV400 Electric gets a cash discount of ₹3 lakh. Other carmakers like Honda, Jeep, SKODA, and Volkswagen are also resorting to heavy discounts to clear their year-end stocks.
