Festive Offers To Light Up New Car Sales In India | 2019

During the recent time, the Indian automotive industry has seen major downfall. That being said, car makers are coming up with new ways to boost their new car sales using lucrative festive season offers.

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• The most recent trend of reduced corporate tax is already expected to catch up as market leader Maruti Suzuki cut down prices upto ₹1 lakh on various NEXA partnered models.
• Maruti Suzuki has also announced a staggering price cut of ₹5000 for all the variants of their best selling models like Alto K10, Swift Diesel, Baleno diesel, Ignis, S-Cross and the Vitara Brezza.
• According to leading sources these measures have been taken to reverse the economic slowdown. These festive season offers are also being considered to the potential to accelerate the Indian automotive sector’s sales growth.
• Following the footsteps of this Maruti Suzuki, other manufacturers like Piaggio and Isuzu Motors have also introduced various lucrative festive offers this season.
• Earlier this month, Finance Minister Smt. Nirmala Sitharaman announced that several measures have been taken into consideration which includes lifting ban on the purchase of vehicles by government departments and allowing an additional 15% devaluation on all the vehicles bought till march 2020.
• The government is also eyeing to come-up with its own Vehicle Scrapping Policy to boost new car sales.
• The industry’s sales and production level have plunged rapidly within the last 8 months which has to lead to job losses, All major OEM’s (Original Equipment Manufacturers) consisting of passenger, commercial, two/three wheelers have reported a massive decline in their domestic sales.
• According to SIAM (The Society of Indian Automobile Manufacturers) the over-all sales have plunged 23.55% to almost 1,821,490 from 2,382,436 units sold in the corresponding month of last year, Adding further the automotive industry has projected that an estimate of 15,000 contractual manufacturing jobs have been lost and another million are at high risk, If the slowdown is not reversed. We do hope that the steps taken by the government do come up with some fruitful result.

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