This may be the best time for you to buy a car. Auto companies are offering all-time high discounts to push sales. These discounts are expected to continue for two months.
Market leader Maruti Suzuki is offering a maximum discount of Rs. 43,000 on its entry-level bestseller Alto. If you want to buy Maruti’s once-popular mid-size sedan SX4, you can expect discounts of up to Rs. 83,000.
Similarly, Hyundai is offering the i10 at discounts of up to Rs. 53,500. Renault Duster and Honda Amaze are perhaps the only two cars on which no deals are on offer.
"The industry is going through a tough time," said Jnaneswar Sen, senior VP, Honda Cars India. "Sales have declined for seven straight months, which has never happened before. The enquiries have dropped at dealerships and even those who are visiting showrooms are taking longer to decide. Discounts are only a reflection of how bad the situation is."
But you can turn this "bad situation" for auto companies into a bonanza for yourself. Many companies have jacked up exchange bonuses to tap customers who want to upgrade from their old cars.
Maruti launched a big bang exchange carnival earlier this month to lure customers to trade in their old cars for new ones.
"This initiative will provide a boost to the overall market and create a positive sentiment for the entire automobile industry," said Mayank Pareek, chief operating officer, marketing & sales, Maruti Suzuki India.
So, bargain hard and you may end up with the deal of the year.