The discounts range from a discount of Rs 2,000 on a small hatchback to even a few lakh rupees on luxury cars for buyers
In good news for those looking to buy a car, automakers have large discounts on offer during March. Most automobile companies have decided to offer their existing stock on pre-budget prices in order to boost sales and clear existing inventory.
The government in its Budget 2016 announcement proposed a 1-4% infrastructure cess on cars and 1% luxury tax on vehicles priced over Rs 10 lakh.
Several automobile companies have announced special offers on their existing inventory with dealers and stockyards before the new fiscal year begins. The offers range from a discount of Rs 2,000 on a small hatchback to even a few lakh rupees on luxury cars. This will be till the end of March or till stocks last, whichever is earlier.
Automobile companies such as Maruti Suzuki, Honda Cars, Toyota, Mercedes-Benz, Mahindra, Volvo, BMW, Jaguar are all offering pre-Budget prices to customers on stocks which will give a benefit of Rs 2,000-80,000 on the vehicles.
An inventory of 2-2.5 lakh vehicles is lying in stockyards and with dealers, according to a report by a leading daily.
Hyundai is offering discounts varying from Rs 10,000 to Rs 53,000 in March. Some of the offers on their passenger car models include a discount of up to Rs 38,000 on the Eon (starting price Rs 2.99 lakh), discount of up to Rs 53,000 on the Grand i10 (starting price Rs 4.69 lakh), discount of up to Rs 50,000 on the Verna (starting price Rs 7.6 lakh), discount of up to Rs 45,000 on the next-gen i10, discount of up to Rs 50,000 on the Xcent and discounts of up to Rs 10,000 on the Elite i20. Hyundai is also offering zero down payments, exchange bonus and cash offers on its cars.
Luxury auto maker, Mercedes-Benz, is offering a low interest rate of 7.99% on its CLA model. Apart from this, the company is offering complimentary insurance and service package for three years.
Mahindra is offering a 'March Bonanza' where offers include a discount of up to Rs 70,000 on the Bolero, discount of up to Rs 1,35,000 on the Quanto, a discount of up to Rs 67,000 on the new generation Scorpio and the Xylo, a discount of up to Rs 77,000 on the new age XUV 500 and a discount of up to Rs 40,000 on the TUV 300.
Honda Cars is offering customers discounts of up to Rs 80,000 as part of their pre-budget offers. The offer is valid up till March 15.
Maruti Suzuki has announced an exchange offer for the WagonR offering a CNG version and a benefit of Rs 60,000.
Toyota, on the other hand, has offered a benefit of up to Rs 75,000 on the Innova.
Volvo is offering its Volvo XC90 at the pre-budget price of Rs 70.2 lakh. While the Jaguar XE is being offered at the pre-budget price of Rs 39.90 lakh.
BMW is offering its passenger vehicles on pre-budget prices.
Volkswagen has offered an exchange benefit of up to Rs 20,000 on its Vento model.
These offers are expected to drive retail sales to double digits during March.
With the government imposing additional taxes on automobiles, a majority of the automobile companies have already announced a hike in their prices. The companies include Hyundai, Honda Cars, Maruti Suzuki, Tata Motors, Nissan and Mercedes-Benz.
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