Exciting Deals in the Auto Industry: Time to Buy Your Dream Car!
Are you thinking about buying a new car? Well, now might be the perfect time! After years of waiting and minimal benefits, the auto industry is now offering some amazing discounts. According to the Federation of Automobile Dealers Associations (FADA), discounts are currently ranging from Rs 15,000 to Rs 20,000 on hatchbacks like the (old) Swift, all the way up to Rs 50,000 or more on cars like the Honda City.
Even high-end vehicles like EVs and SUVs are getting discounts. For example, the Hyundai Alcazar is offering discounts of Rs 45,000 to Rs 65,000, the Mahindra XUV400 EV has benefits of up to Rs 1.5 lakh, and the Honda City eHEV is discounted by Rs 65,000.
Dealers attribute these discounts to the increasing inventory levels. Manish Raj Singhania, the President of FADA, mentioned that discounts are high in June and July due to slow sales, but also because inventory levels have been steadily increasing for the past few months.
Industry experts point out that smaller cars are seeing the highest percentage discounts in terms of retail price. Models like Alto, Bolero Neo, S-Presso, Celerio, and Ignis are offering the highest discounts. Ravi Bhatia, the President of JATO Dynamics, stated that discounts have been increased in anticipation of the festival season, as car prices had previously surged, dampening demand growth.
Production ramp-up by major car manufacturers has led to higher wholesale billing than retail sales in recent months. This surplus inventory has prompted dealers to offer substantial discounts on hatchbacks and sedans.
