Nissan India Offers up to 40% Lower EMI Option

Indian Auto industry is going through a tough phase, and automakers are adopting various measures to overcome the financial crisis. We reported earlier that companies like Maruti, Hyundai, Tata, Skoda and many more are giving special offering and huge discounts on their cars to lure buyers. Now the Japanese car maker Nissan is coming up with an exciting finance scheme, that offers easier repayment options to car buyers. This financing scheme can result in up to 40 per cent drop in EMI's.

According to Nitish Tipnis, Sales and Marketing director at Hover Automotive, which handles marketing, sales and after sales for Nissan, "Market conditions are not good in terms of consumer sentiment. This scheme certainly offers an easier and affordable financing option to buyers,". The new financing scheme is valid for three years and will down the EMIs up to 40 per cent, provided consumers to pay 34 per cent lesser down payment. Adding the move will help the company do better volumes in the flat-growth climate, He added. To offer this financing scheme, Nissan India has tied up with auto financiers like HDFC Bank, ICICI Bank, Kotak Mahindra and Tata Capital.

Nissan India registered a growth of 11 per cent at 36,975 units in last fiscal as against 33,270 units sold in FY12. The car sales fell 6.7 per cent to 1.89 million in last fiscal as against 2.031,306 units in FY12. SIAM (Society of Indian Automobile Manufacturers) said that the passenger car segment will grow by 3-5 per cent, while the UV segment is expected to grow by 11-13 per cent. "Overall, passenger vehicle sales are estimated to rise by 5-7 per cent in this financial year," Siam said.

Source : ET

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