As car sales move south, discount and benefits being offered by carmakers are inversely moving north. Auto companies are trying their best to tackle the on-going slowdown and they also want to clear inventory of old models before BS-VI emission norms come into play from April 1, 2020. With hefty discounts and benefits, this is the best time to buy your first car or upgrade your existing one.
4 Lakh – Discounts and benefits are being offered by most carmakers including Maruti Suzuki, Hyundai, Mahindra, Tata Motors, Honda, Toyota, Ford, Renault, and Nissan. In terms of value, Honda CR-V tops the list with discount of Rs 4 lakh. Fifth generation Honda CR-V was launched in October last year and it competes with Toyota Fortuner and Hyundai Tucson. Sales have been slow in recent months, which explains the huge discount.
2 Lakh Next on the list are Hyundai Elantra and Ford Endeavour, both of which are available for total discount worth Rs 2 lakh. Elantra is being offered with cash discount of Rs 1.25 lakh and Rs 75k corporate discount. It will soon be getting a facelift that will be offered only with petrol engine. Endeavour is available with cash discount of Rs 2 lakh even though it is among the few cars that have registered positive growth in August 2019.
1 lakh to 2 lakh – Cars offering discounts of more than Rs 1 lakh include Toyota Corolla Altis, which is available with 1 lakh cash discount, 50k corporate discount and 20k exchange discount. Next is Toyota Yaris with total benefits worth Rs 1.60 lakh (cash discount Rs 1.15 lakh, corporate discount Rs 30k and exchange benefits Rs 15k). Renault Duster pre facelift is available with Rs 1.55 lakh discount that includes 1.50 lakh cash discount and Rs 5k corporate discount.
India’s largest carmaker Maruti Suzuki has lost sales and market share in recent months. Former bestsellers like S-Cross and Vitara Brezza are available with discount of Rs 1,12,900 and Rs. 1,01,200 respectively. Offers on S-Cross include 50k cash discount, 10k corporate discount, 30k exchange benefits and 5 years warranty. Offers on Brezza are the same with the only exception of exchange discount, which is Rs 20k.
50k to 1 lakh – Cars with discount of up to Rs 1 lakh include Hyundai Grand i10 (Rs 95,000), Maruti Suzuki Dzire diesel (Rs 84,100), Maruti Suzuki Swift diesel (Rs 77,700), Mahindra TUV300 pre facelift (Rs 76,500), Nissan Sunny (Rs 75,000), Maruti Suzuki Alto (Rs 65,000), Tata Tigor (Rs 55,000) and Tata Nexon (Rs 50,000).
50k – Cars with least discounts include Ford Freestyle (Rs 45,000), Tata Tiago (Rs 40,000), Ford EcoSport (Rs 35,000) and Honda City (Rs 30,000 + Free first year insurance).