Along with increasing their market share during FY 2016, Maruti Suzuki India has also increased the amount of discounts being offered on their cars. During Q3 FY 2016, average discounts on Maruti cars increased from INR 19,500 per car to INR 22,000.
This number is further expected to increase as the inventory level increases at dealerships from average of 2-4 weeks to 5-6 weeks. Except for the newly launched Maruti Vitara Brezza and Baleno, all their cars are on offer with impressive discounts.
Not only Maruti Suzuki, India’s second largest car maker Hyundai is also following a similar path, reveals a new report from Financial Express. Both brands have extended discounts on older, while keeping no discounts on their new offerings.
Maruti Suzuki has extended discounts on the Alto, WagonR, Celerio, Dzire and Swift. Each of these models has not undergone any najor makeover in the recent past and with new rivals popping out, chances are high that they start losing their charm over consumers.
This has pushed the company to extend discounts and offer added benefits to customers to make these models more attractive. Cash discounts to the tune of INR 20,000-30,000 is being offered on some models while loyalty discounts include free insurance and accessories which are on offer to existing Maruti Suzuki owners.
Hyundai Motors is also offering discount on one of their best sellers – Grand i10. Surprisingly Hyundai discounts are not extended to Creta and i20. This is because both cars are in a segment which is yet to get crowded.