General Motors has slashed prices of its model Chevrolet Spark by Rs. 55,000 in India. The model shall be available at Rs. 2.66 lakh (ex-showroom, Delhi). General Motors is one of the first auto makers to slash its prices to combat the dropping sales figure problems with a price cut down. Indian auto market has been witnessing a tremendous slump since past few weeks owing to the rising inflation and increase in interest rates for car loans.
The basic model for Chevrolet Spark without air-conditioner and power steering shall be available at Rs. 2.66 lakh which is cheaper than even its launch price. This is the second time in the year that General Motors has announced a slash in prices of its model Chevrolet Spark.
Even other car makers are following the suit to lower their car prices to increase the sales figures that have dropped to dangerous levels owing to slow demand in the market. Maruti's Alto and Zen Estilo are cheaper by Rs. 52,000 while Mahindra Renault Logan is cheaper by Rs.55,000. Even the dealers are offering 15 percent discount in the glum looking monsoon season.
