After June’s dismissal performance, the automobile industry in India has geared up and to woo the customers major car makers have offered huge discounts and incentives to push car sales. Good news for the Indian customers as there seems to be a discount war between auto car makers.
Honda has offered a stunning Rs 1.7 lakh limited-period waiver on its hatchback Honda and Honda Siel is offering Rs 50,000 discount on its top-selling City. Maruti Suzuki offers discounts more than Rs 50,000 on Alto, Wagon R and Estilo. Volkswagen is offering loans at 6.99% interest rate on its Vento petrol sedan, while Mercedes and Audi are offering zero interest loans on C Class sedan and Audi A4 sedan, correspondingly. Hyundai Motor India offers up to Rs 45,000 discount on its popular i10 and Santro compact cars.
Maruti's chief general manager Shashank Srivastava said, "We are just reacting to the market. Retail sales have taken a hit with a huge slump in customer's responses. To maintain our sales tempo, we have maximized the benefits on high selling models like Alto and WagonR in July as overall sales had turned negative in June,"
The Indian car market started a slowdown in April due to rising loan rates and higher fuel prices and hit a 26-month low in June after 2 year’s significant growth in the auto sector.
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