Honda ‘Drive in 2022, Pay in 2023’ scheme has been launched in partnership with Kotak Mahindra Prime Limited
With consumer sentiments soaring during festive season, auto companies boost it further by offering special schemes and discounts. Working on the same lines, Honda Cars India (HCIL) has now launched an attractive scheme of ‘Drive in 2022, Pay in 2023’. It is similar to Buy Now, Pay Later schemes launched by several online retailers.
Honda’s new festive scheme has been launched in association with Kotak Mahindra Prime Limited (KMPL). One of the leading auto finance companies, KMPL has been working with Honda for a long time. KMPL is a subsidiary of Kotak Mahindra Bank Limited and has been into car finance for several years. It also caters to two-wheeler financing.
Honda Drive in 2022, Pay in 2023 scheme
Honda’s Drive in 2022, Pay in 2023 scheme is valid across variants of Honda City and Honda Amaze. People planning to buy these sedans can benefit from an EMI holiday of up to three months. Honda’s Drive in 2022, Pay in 2023 scheme is active with immediate effect. The offer will be available till October 31, 2022. Anyone buying these sedans in October will not have to worry about paying EMIs till 2023. Regular EMIs will begin from January 2023.
Honda’s festive offer for City and Amaze can be availed at any authorized Honda dealership. Buyers can also apply at any of the KMPL branches. The finance will cover up to 85% of on-road cost of the car. For the first three months (Oct – Dec 2022), only a nominal cost EMI will be chargeable.
Honda City and Honda Amaze are currently the bestselling Honda cars in India. Both are usually ranked among the top 10 list of best selling sedans in the country. In August, Honda City was in third place with sales of 3,488 units. Honda Amaze was fifth, with sales of 3,418 units. Amaze cumulative sales recently crossed the 5-lakh mark.
Higher sales expected
With its Drive in 2022, Pay in 2023 scheme, Honda has eased the financial aspects of owning a car. This new scheme will be in addition to any other schemes and discounts already offered by the company or dealer. This scheme will be particularly useful for folks who may be temporarily running short of funds. It has made it easier for buyers to own their dream Honda car.
While its sedans have been witnessing strong sales, Honda is yet to achieve something spectacular in SUV space. That could change soon, as the company has plans to introduce two new SUVs. One of these is codenamed PF2, which could be a sub-4m SUV. The second is codenamed PF2S, which could rival the likes of Hyundai Creta, Kia Seltos, Maruti Vitara and Toyota Hyryder.
Honda SUVs will have to deliver if the company wants to improve its single-digit market share. It is imperative, as SUV sales far outnumber sedan sales in the country.