Automobile Industry Brings Golden Opportunity for Car Lovers

By Sarthak Moghe Fri, 27 Sep 2019
Automobile Industry Brings Golden Opportunity for Car Lovers

Automobile Industry Brings Golden Opportunity for Car Lovers

As the festive season is coming close, automobile manufacturers have rolled out the red carpets for buyers to clear the inventory. The automobile industry in India is offering massive discounts on passenger cars and two-wheelers. The benefits include exchange bonuses and discounts that range from Rs. 50000 to Rs. 1,50,000 on the brand and manufacturer. These schemes are not applicable to the newly arriving cars and SUVs.

For instance, Tata Motors is offering benefits up to Rs. 1.5 lakh whereas, Hyundai is offering discounts ranging between Rs. 65,000 – Rs. 95,000, based on the models.

Maruti Suzuki, the biggest manufacturer of cars in the country has cut prices for several models up to Rs. 5,000 due to a reduction in corporate taxes offered by the government. This reduction in prices is in addition to the discounts being offered by the company.

Two-wheeler maker, Bajaj Auto has offered benefits up to Rs. 7,200 per motorcycle while Honda motorcycle will be announcing its schemes soon.

Car sales have been severely affected for the past nine months, but last month was particularly concerning as the sales of passenger vehicles dropped to 40%. Due to these bad few months, automakers are loaded with the unsold stock at factories and dealerships. With the GST council not reducing rates on automobiles, manufacturers are in desperate need to clear their inventory.

Hyundai Motors India is offering benefits up to Rs. 95,000 on Grand i10, Rs. 65,000 on Elite i20, Rs. 65,000 on Santro, and Rs. 80,000 on Creta along with 4 years of extended warranty.

Tata Motors has offered Rs. 85,000 benefit on Nexon, Rs. 1,50,000 on Hexa, Rs. 70,000 on Tiago, and Rs. 50,000 on Harrier.

But that’s not it, luxury car maker Mercedes- Benz India has also joined hands to offer benefits by introducing ‘Wishbox’. It is a compilation of customized financial solutions for helping customers buy a new car. These solutions also include low- or-zero down payment but the exact benefits are not out in clear.

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