The ongoing slowdown in the Indian car market has forced the leading car makers in the county to keep the price of their new models competitively low. On the other hand, car makers are offering heavy discounts with existing cars to enhance their sales figures.
Recently, Maruti Suzuki launched its much awaited premium hatchback new Maruti Swift with about 140 changes throughout. Surprisingly, the new Swift has been priced just Rs 13,000 higher as compared to the previous model. Similarly, Japanese auto giant Toyota recently launched its much awaited compact hatchback Etios Liva with a starting price tag of just Rs 3.99 lakh, making it highly competitive in the already congested compact hatchback segment.
Another Japanese car maker Honda had recently cut down the price of premium hatchback Honda Jazz by up to Rs 1.62 lakh. The car that was previously available at price figure of more than Rs 7 lakh is now available at a starting price of Rs 5.5 lakh. Moreover, Honda has offered a whopping discount of Rs 66,000 on its popular mid size sedan City.
All these price cuts and competitively priced vehicles have raised a price war in the already competitive car market in India. These price cuts have force some other car makers to decrease the price of their portfolio models, to keep being competitive in the market.
The Indian buyers could expect a flurry of discounts and freebies from the car makers in the forthcoming festive season.
