The continuously slowing down demand and rising inventory has forced the car makers in the country to offer lucrative discounts on cars to attract buyers towards their showrooms. Struggling with the slowing demand, the car makers in India are now offering discounts of up to 20 % in the Indian market.
A range of lucrative offers have been doing rounds in the Indian car market from the side of leading auto makers which includes a heavy discounts on ex-showroom prices, low interest car loan, etc. The country’s largest car maker Maruti is offering heavy discounts on its comparatively less selling cars like Zen Estillo. On the other hand, car makers like Skoda and Honda are offering low car loan interest rate at 9.99 % and 9.0 %, respectively, as compared to market rate of 14 %.
The car makers, who had boosted their inventories ahead of the Diwali festive season in expectation of high sales, are now witnessing piled-up inventories due to moderate sales growth registered during the festive season.
With a considerable rise in the petrol prices, the price gap between petrol and diesel has widened up considerably, forcing more and more car buyers to shift to diesel variants of the cars in India. This has resulted in slow demand for petrol version of cars. Thus, the car makers are offering higher discounts on petrol cars as compared to discounts offered on diesel one. The petrol models of the cars like Chevrolet Spark, Hyundai Accent and Fiat Punto are available with exciting offers in the country.