Winning Bizness Desk

Mumbai. With a continuous decline in sales and a rising inventory burden, vehicle companies are gearing up to offer significant discounts this festive season. In an effort to clear stock and boost sales, automakers are introducing exchange offers and other schemes, which are expected to intensify as Diwali approaches. According to data from the government’s vehicle portal, passenger vehicle sales dropped from 309,000 units in August to 277,000 units in September, marking a steady downward trend. While vehicle sales had surged post-COVID, the momentum has since slowed, leaving dealerships with unsold stock for 75 to 90 days, leading to higher inventory costs.

Optimism for Festive Season

However, automakers are optimistic about the festive season, which includes key holidays such as Navratri, Dussehra, and Diwali. Historically, 30% to 40% of annual vehicle sales occur during this period. Companies like Honda, Hyundai, Mahindra & Mahindra, and Maruti Suzuki are taking proactive steps to increase demand, leveraging new model launches, substantial discounts, and price reductions.

Discount Offers by Major Automakers

Maruti Suzuki: Discounts of up to ₹40,000 are available on models like the Alto K10 and S-Presso, while the WagonR has up to ₹30,000 off. The Jimny has a hefty discount of up to ₹2.5 lakh at Nexa showrooms. An exchange bonus of ₹15,000 is also available for scrapping old vehicles.

Hyundai: Offering discounts of up to ₹35,000 on the Grand i10 Nios and ₹30,000 on the Aura sedan. The Venue SUV comes with benefits of up to ₹45,000.

Mahindra & Mahindra: Discounts on the Scorpio Classic SUV have increased to ₹1 lakh, and the Thar has a discount of up to ₹1.5 lakh.

Honda: Offering benefits up to ₹1.12 lakh on the Amaze sedan and ₹1.14 lakh on the City sedan.

Tata Motors: Offering discounts of up to ₹3 lakh on electric vehicles and up to ₹2.03 lakh on petrol, diesel, and CNG models. These offers are valid until the end of October.

As the festive season gets underway, consumers can expect even more attractive offers, making it a great time to purchase a vehicle.