Planning to buy a car? You may get more discounts and assured gifts right now

Incentives offered by carmakers are the highest in five years and are aimed at tempting customers to buy more and more cars as sales slow.

For anyone wishing to buy a car right now, there are some happy tidings as carmakers and dealers are offering incentives- discounts, exchange bonuses, assured gifts- almost 5-11%. These are the highest in five years and are aimed at tempting customers to buy more and more cars as sales slow following a record FY24. The offers from carmakers are not just on old models but also on those that went for sale just a year ago. These incentives depend on fuel type, variants and brands and cut across all body types - hatchbacks and sedans to SUVs.

Cars are seen parked under solar panels at the manufacturing plant of Maruti Suzuki in Manesar.(Reuters)

For customers, Tata Motors is offering benefits of up to ₹1 lakh on the second-generation Nexon compact SUV launched in September 2023. The Honda Elevate midsize SUV comes with benefits of ₹55,000 for corporate buyers under the Summer Bonanza Offer while Maruti Suzuki is offering benefits of up to ₹72,000 on the Fronx and up to ₹95,000 on the Grand Vitara.

These incentives are usually seen either in December or during the festive season, Kunal Behl, vice president, marketing and sales, Honda Cars India, said as per Economic Times.

He told the outlet, "After a strong run, the market has slowed and inventory levels are high. Though we don't believe in discounting, we launched the scheme to get some traction."

This comes as Skoda India cut prices of the Kushaq SUV and Slavia sedan and added new variants.