Hyundai Grand i10, Maruti Suzuki Ciaz, Wagon R get price cuts; discounts of over Rs 1 lakh on offer

Car and bike manufacturers are raining discounts and other benefits this monsoon in Mumbai when sales tend to slow down as shoppers traditionally put off purchases because of rain. According to the dealers, Hyundai Grand i10, Maruti Suzuki’s Ciaz and Wagon R, Honda’s Jazz and CRV and Mahindra XUV500 are some of the models which are on discounts ranging up to more than Rs 1 lakh. The discounts vary from dealer to dealer and also differ with cities.

In addition to the deals offered by dealers, OEMs themselves are announcing discounts for the month of July. For instance, Bajaj Auto is offering ‘3-in-1 hat-trick offer’ in key markets across the country for the entire month of July.

The benefits include one-year free insurance for customers planning to buy Platina, Discover, Pulsar 150, Pulsar NS 160 and V range of motorcycles. The second benefit provides for two years of free services for the new CT100, Platina, Discover, Pulsar, Pulsar NS, Avenger, Pulsar RS, V and Dominar customers. Additionally, customers of any Bajaj motorcycle in this period get a five-year warranty package at no extra cost. Eric Vas, president, Motorcycle Business, Bajaj Auto, said, “We are confident that these new customer-centric schemes will help boost our sales in the monsoon season.”

Apart from prepping up the sales volume, experts claim that monsoon season provides the original equipment manufacturers (OEMs) an opportunity to offer discounts usually for models which have not been doing well on volumes or to phase out the old models before introducing the new one.

The offer from Bajaj Auto is to be seen in the light of the concerns shown by its chairman Rahul Bajaj in the company’s latest annual report, in which he blamed inadequate performance in the large commuter segment, adding that steps are being taken to rectify the shortcomings. Bajaj Auto’s market share in the the domestic motorcycle segment fell by 2.3% from 18% in FY17 to 15.7% in FY18.

Similarly, during the on-going month, Mumbai-based Tata Motors is offering first year’s insurance on Tigor, Nano, Hexa, Safari Storme, and Zest models, at a price of Re 1. Customers can also get discount benefits, ranging from Rs 20,000 to Rs 30,000 on select models.

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Additionally, exchange discounts up to Rs 15000 are on the offer for the prospective car buyers on the aforementioned cars as well as on all variants of Nexon and Tiago. Tata Motors, which is in a turnaround mode, has been on a steady stride in recent months. The company’s passenger vehicle (PV) domestic sales in June 2018 were at 18,213 units, a growth of 63% over last year.

Source: DNA Money