Car Discounts: Federation of Auto Dealers Association (FADA) says that dealers have 75-80 days of inventory stock, which is worth about Rs 75,000 crore. This is the reason why companies are now coming up with new offers so that this stock can be cleared as soon as possible
Car Discounts: The festivals are over, but not the offers of car companies. In such a situation, if you are dreaming of buying your new car, then this could be the right time for you. Car companies are offering huge discounts and offers to clear their old stock by the end of the year. According to industry figures, around 3,25,000 to 3,30,000 passenger cars have been sent to the dealers in this November. However, according to the data available on the Vahan platform, only 1,75,660 vehicles have been retailed in the first 20 days of November. That is, the dealers still have a huge stock left with the dealers.
The Federation of Auto Dealers Association i.e. FADA says that the dealers have 75-80 days of inventory stock, the value of which is around Rs 75,000 crore. This is the reason why companies are now coming up with new offers so that this stock can be cleared as soon as possible.
Reasons behind the discount
Puneet Gupta of S&P Global Mobility said, “It is a common strategy to give year-end discounts to clear old stock. However, this time dealers have a lot of stock left, about 65-70 days. Due to this, car companies have decided to give aggressive discounts and cut prices. This time can be a great opportunity for you to buy a new car.”
Let us now know what offers are available on which brands-
Maruti Suzuki
Maruti’s Arena showrooms are offering discounts of Rs 20,000 to Rs 35,000 on Alto K10, WagonR, Celerio and S-Presso. On the other hand, Swift is offering discounts of Rs 25,000 to Rs 50,000. Along with this, an exchange bonus of Rs 15,000 and a corporate discount of Rs 2,100 to Rs 2,300 are also available.
Maruti is offering discounts of Rs 40,000-50,000 on Ignis, Rs 35,000-45,000 on Baleno, Rs 30,000-35,000 on Fronx, Rs 20,000 on Ciaz, Rs 20,000 on XL6, Rs 25,000-50,000 on Grand Vitara at its Nexa showrooms. There is a discount of up to Rs 1.95 lakh on Jimny SUV. Apart from this, an exchange bonus of Rs 10,000-15,000 and a rural discount of Rs 2,100 and a corporate discount of Rs 3,100 are also being given on these models.
Hyundai Motors
Hyundai Motor India is offering discounts of Rs 35,000-45,000 on Grand i10 Nio, Rs 20,000 on Aura, Rs 20,000-45,000 on i20, Rs 20,000-30,000 on Exte (select variants), Rs 45,000-50,000 on Venue and up to Rs 70,000 on Verna. Apart from this, a big discount of Rs 50,000 is being given on Tucson and up to Rs 2 lakh on Ioniq 5 e-SUV.
Tata Motors
The company is offering cash discounts of Rs 25,000 and Rs 20,000 on Altroz and Punch (ICE version). Its Tiago hatchback, Tigor sedan and Nexon SUV are now available at a starting price of Rs 4.99 lakh, Rs 5.99 lakh and Rs 7.99 lakh respectively for the ICE version. Apart from this, special offers are also being given on electric models.
Mahindra & Mahindra
Mahindra & Mahindra (M&M) is offering discounts on selected variants of some of its models. There is a discount of Rs 70,000 on Bolero Neo, Rs 50,000 on Scorpio N, up to Rs 1.25 lakh on Thar 4×4. There is a cash discount of Rs 3 lakh on its XUV4OO Electric.
Apart from this, companies like Honda Cars, Jeep India, Skoda Auto and Volkswagen are also offering huge discounts on their models. According to FADA, the wedding season and these promotional offers will keep the car market alive. However, customers are also thinking that if they wait, they can get even better offers by the end of the year.
