All top carmakers to offer festive discounts to ramp up sales

Anybody looking for a new car purchase, this is definitely the right time. The car manufacturers are making use of the festive season in full swing by offering major discounts and freebies to lure the customers. All the top car manufacturers including Maruti, Hyundai, Honda, Toyota, Fiat and Volkswagen are offering cash discounts, low interest rates on car loans and slight insurance costs on their respective models. The car makers are obviously trying their best to combat the sluggish car market by implementing as many strategies as possible. The festive offers during ‘Vinayak Chaturthi’ and ‘Onam’ apparently did not make a positive shift in the sales with overall sales growth in July recorded just 16% and 10% in the month of August.

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While Neeraj Garg of Volkswagen India had expressed that despite the negative growth in the car market which is likely to continue, the discounts on their products will be offered to make the best of the situation. Volkswagen had already introduced the special edition ‘Breeze’ offer on their models Volkswagen Polo and Volkswagen Vento, which has a few additional features like navigation system, rear parking sensors and leather seat covers with no additional cost on the models. Honda Siel cars also has cut down the price on its Honda Jazz hatchback by Rs 1.66 lakh and Rs 66,000 slashed down from the Honda City sedan.

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With the lack of diesel engine in the Honda City, the Honda India dealers are hoping to introduce additional discounts on the sedan to rope the customers into attraction. Mayank Pareek, an executive officer from MSI had also informed that 20-22% additional discounts are being offered this year against last year, and in spite of that the company is able to make only marginal profits. On an outlook, the double whammy of petrol price hike and increasing lending rates are discouraging the consumers from buying new cars and a lot of effort from the car makers is required to increase the sales momentum to overcome this factor.

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