New Year bonanza: Car makers offer up to Rs 1.5 lakh discounts | business | Hindustan Times
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New Year bonanza: Car makers offer up to Rs 1.5 lakh discounts

business Updated: Dec 16, 2014 07:41 IST
HT Correspondent

With the year-end approaching and sales growth still bumpy, most auto makers are offering attractive discounts and offers on new car purchases — from hatchbacks to luxury. And with car companies planning to raise prices from January, this is also probably the best time to buy one, market watchers said.

On offer are free insurance, extended warranties and exchange and loyalty bonuses, with total benefits amounting to Rs 30,000 to over Rs 1.5 lakh.

Though sales have not gone up significantly in the last several months (passenger vehicle sales rose 2.7% during April-November), companies are pinning their hopes on the upcoming Christmas season.

“Sales are still sluggish. So you see these hefty discounts are being offered,” Sanjay Gupta, senior general manager and group head of marketing, Hyundai Motor India said on the sidelines of the Autocar performance show in Mumbai.

Though the offers are typically higher on slow-selling models, some new launches including Maruti are available at a some discounts.

“There are more year-end discounts to clear stocks...We do intend to retail more than what we have delivered to wholesale,” said RS Kalsi, executive director, marketing and sales at Maruti.

While GM and BMW have announced price hikes by up to 5% Maruti is also learnt to be mulling a 2-4% price rise.