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Cars unlikely to see deep discounts
NEW DELHI: Since big car makers such as Tata Motors, Hyundai and Maruti Suzuki have seen a surge in car sales, they are unlikely to offer deep discounts this festival
NEW DELHI: Since big car makers such as Tata Motors, Hyundai and Maruti Suzuki have seen a surge in car sales, they are unlikely to offer deep discounts this festival season.
For instance, Tata Motors’ car sales doubled during Onam, an important festival in south India which marks the beginning of the festival season in the country, as compared to last year.
“We will see similar demand in West Bengal, with Durga Puja round the corner,” said Vivek Srivatsa, head of marketing (passenger vehicles) at Tata Motors.
The company managed this feat without offering deep discounts. “We are only giving loyalty and exchange bonuses to customers.”
Rakesh Srivastava, head of sales and marketing at Hyundai India, said there was latent demand in the market. “We are already witnessing a sales growth of 25% ... The cash component in discounts has come down,” he said.
The company is offering limited editions of Xcent, Grand i10, and Creta (automatic) petrol with more features at a slightly higher price.
India’s largest manufacturer Maruti Suzuki that is working towards double digit growth is betting on the festival season. Without divulging specifics, a company spokesperson said, “Discounts cannot be decided in isolation as they are impacted by the market situation and competitors’ moves.”
