With the festive season around the corner, car manufacturers and dealerships are giving huge discount benefits to customers. This year there have been various changes in tax and cess structures in Indian automotive industry. Recently, the GST Council has increased the cess on the luxury and SUV cars, however, cars with petrol engine up to 1200cc and diesel engine up to 1500cc have not been affected. This decision has come after a lot of policy-shuffling through the year, wherein we witnessed the GST being implemented. On implementation, car prices for most segments went through a reduction, especially the luxury segment, which saw a reduction of more than 12 % in tax rate in some cases. In this month, many carmakers are trying to get rid of their inventory and same is the case with dealers. With many new models scheduled to launch before the festive season, this could be the best time to buy a car that you've been eyeing for long. Herein, we have compiled a list of companies who are giving discount benefits on vehicles at the dealership level, however, these may vary from city to city.
Discounts on Maruti Suzuki car
Maruti Suzuki dealerships are offering a discount from entry-level hatchback to MPV segment in its lineup. The Alto 800 is being offered with a cash discount of Rs 20,000, while the Alto K10 & Alto K10 AMT is on sale with a cash discount of Rs15,000. The Swift with petrol and diesel engine is also being offered with cash benefits of up to Rs 20,000. There are no cash benefits and exchange bonus on the 2017 Dzire, Baleno, Brezza and the Ignis, owing to the high demand for these vehicles.
Discounts on Hyundai cars
Hyundai Motor India dealerships are offering attractive discounts up to the tune of Rs 2.5 lakh on its vehicles. The hatchback Eon is being sold with a cash discount of Rs 45,000, while the Santa FE can be bought with an exchange bonus of Rs 2.5 lakh. The Grand i10 is being sold with total benefits of about Rs 80,000, while the i20 range is being offered with a cash discount of Rs 20,000. The Creta, Elantra and 2017 Verna are not being offered with any cash or exchange benefits right now.
Discounts on Honda cars
Honda Cars India dealerships are offering a cash discount of Rs 10,000 to Rs 1 lakh, on its selected products like Brio, Jazz, and BR-V. However, WR-V and 2017 Honda City are not being sold with any offers as they are new models and are demand. The BR-V hasn't been able to live up to Honda's expectations and hence dealerships are trying to spur its sales by giving a cash discount of up to Rs 1 lakh.
Discounts on Mahindra cars
On the occasion of the festive season, Mahindra and Mahindra is offering discounts on various products like the KUV100, TUV300, Scorpio, and XUV500. Dealerships are providing cash benefits between Rs 20,000 to Rs 45,000 along with an exchange bonus of Rs 15,000 to Rs 20,000.
Discounts on Toyota Cars
Toyota India dealerships are offering discounts in the form of cash and exchange bonus on Liva, Etios sedan, and Corolla Altis. The Liva and Etios sedan are being sold with an exchange discount of Rs 10,000, while the Corolla Altis is being offered with a cash discount of up to Rs 30,000. The Innova Crysta and Fortuner are being sold without any significant offers, owing to a strong demand for these vehicles.
Discounts on Volkswagen Cars
To make the most of the festive sales this month, Volkswagen dealerships are offering discounts selected models including Polo, Ameo and Vento. The dealership is giving cash discount of flat Rs 50,000 on Polo diesel variants and Ameo. The Vento is being sold with heavy benefits like cash discounts of Rs 60,000 on petrol and Rs 90,000 on diesel variants.
Mehul Agrawal, COO, CARS24 said: “During the second half of the year, a lot of people decide to buy a car. But these are not just the new cars that they are buying, but a lot of second-hand cars as well. In India, used-car sales is twice that of new car sales. So, whether it is a first-time buyer, or someone looking for an upgrade, they consider both the options of a new car or a second-hand car.During the festive season, there is a visible shift in the consumer behaviour where used-car industry experiences a volume growth of 30-35%.There are a lot of discounts offered by new car dealers to capitalize on the opportunity and hence it is also a great time to sell the car. Average Selling Price (ASP) of used-cars is also higher by almost 20% during this season due to increase in the sale of sedans than hatchbacks.Car owners can maximize the value of their old car, by selling it just before Diwali, when the prices are highest. After the festive season, the prices start to fall sharply in run up to the New Year. We see a sharp rise in people selling cars to us during the current festive season and our branches are running at full capacity buying the cars.”