In a desperate bid to lure Indian buyers, several auto makers have started offering mouth watering discounts and freebies on their products. Top passenger car makers, such as Tata Motors, Volkswagen, Ford and Hyundai amongst others are doling out discounts and incentives to domestic audience, in order to put their dwindling sales figures back on track.
Tata Motors, the country's largest automobile manufacturer, is offering its Nano entry level small car at 12 interest-free instalments, if the payment is made via credit cards. Further, the company has launched a buy back scheme on its Manza Club Class mid sized sedan, whose retail price has been cut by Rs. 50,000. Tata Motors will buy back the model after a period of 3 years at 60 per cent of its selling price. The company has also slashed prices of its entire hatchback and sedan range by Rs. 29,000 to 50,000 in the domestic car market.
The Indian arm of Volkswagen, a well-appreciated German car maker, offered its Vento mid sized sedan at half its market price, with the remaining money to paid after one year. The scheme was valid for four days in February 2013 and many domestic buyers availed the scheme. Ford India Private Limited (FIPL), a completely owned subsidiary of American multinational auto major, is doling out discounts and incentives worth between Rs. 37,000 and Rs. 97,000 to the Indian consumers. The offer ends on March 9, 2013.
Hyundai Motor India Limited (HMIL), the country's largest exporter and second largest passenger car maker, is shelling out savings and cash discounts up to Rs. 1.2 lakhs on its entire product portfolio, ranging from entry level Eon hatchback to the Santa Fe premium Sports utility Vehicle (SUV).