Oct 02, 2024 07:54 PM IST
Though car sales in India have been declining, automakers are optimistic about the potential demand from the upcoming festive season
Indian automakers are hoping for a seasonal demand surge, fueled by the festive period after the massive slowdown in sales they saw which came after the initial post-pandemic demand surge, according to an Economic Times report, which added that they have introduced big discounts which may increase further towards Diwali.
As a result, companies including Maruti Suzuki, Tata, MG, Mahindra & Mahindra, Honda, and Hyundai, are banking on major October festivals like Navaratri, Dussehra, and Diwali, which usually accounts for 30-40% of annual sales, according to the report.
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What are the festive season discounts on cars this year?
Maruti Suzuki has introduced price cuts for several models, with discounts up to ₹40,000 for the Alto K10 and S-Presso, while the WagonR gets offers ranging from ₹15,000-30,000. The Brezza and Swift get a ₹10,000 discount while the Jimny gets a huge ₹2.5 lakh discount.
For Hyundai buyers, the Grand i10 Nios gets up to a ₹35,000 discount, the Aura sedan gets ₹30,000 off, the Venue SUV gets ₹45,000 as benefits, and premium models like the Tucson and Kona EV get discounts up to ₹2 lakh.
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Mahindra & Mahindra (M&M) has increased the discount on the Scorpio by up to ₹1 lakh from just ₹20,271 earlier and the Thar SUV gets benefits raised to ₹1.5 lakh from just ₹20,000 earlier.
Honda increased benefits on the Amaze to ₹112,000 this month from ₹96,000 last month, to ₹114,000 from ₹88,000 for the City, and an extra ₹10,000, totaling up to ₹75,000 for the Elevate SUV.
Tata announced festive offers up to ₹3 lakh on its electric vehicles (EVs) till October 31, along with benefits up to ₹2.03 lakh on petrol, diesel, and CNG variants.
Meanwhile, luxury car manufacturers Audi, BMW, and Mercedes-Benz are also anticipating robust festive season demand, the report read.
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