Following the raised concerns of skyrocketing petrol prices as well as higher interest rates on auto loans, the car buyers in India are expected to receive a series of attractive offers, discounts and freebies to push the sales in the upcoming festive season.
The leading car makers in the country including Maruti, Hyundai, Tata Motors, Volkswagen, Toyota and Fiat, are all geared-up to raise the buyers footfall at their showrooms by announcing lucrative discount offers to the buyers in this Diwali season that has been considered the biggest shopping season of the year.
The car makers in India are currently under tremendous pressure after the recent festivals like Ganesh Chaturthi and Onam, which have been volume driven festivals for the car makers in India since last two year, failed to raise the demand for cars. Learning a lesson or two from this, the car makers now don’t want to leave any stone unturned in making sure that buyers reach their showrooms.
According to a recent statement given by Neeraj Garg, Director (Passenger Cars) at Volkswagen India, "The market is shrinking and is likely to remain depressed. The festival season is definitely going to be tough." He added that the discounts from car makers will continue.
Volkswagen India has recently launched new special festival editions of its Polo hatchback and Vento sedan.
Mr. Mayank Pareek, Managing Executive Officer (Sales & Marketing) at Maruti Suzuki, said in a statement that the growth is coming at a cost and margins will be affected. He added that discounts are up 20 to 22 percent more this year around as compared to the discounts offered in the same season last year.
