Discounts come as Diwali gift as auto makers try to drive sales

Quick Summary:

Facing a significant industry slowdown, car manufacturers like Maruti Suzuki, Honda, Mahindra, and luxury brands such as Audi and BMW are offering deep discounts, sometimes up to Rs 12 lakh, across various models from entry-level to high-end luxury.

Analysts predict even deeper discounts post-Diwali to clear excess inventories.

After passing through a bumper demand period when the economy started to open up after the Covid lockdowns in 2021, the car industry has fallen on tough times this year as buyers do not appear to be excited about new purchases as they were earlier.

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Article Details

Author / Journalist: Pankaj Doval

Category: EconomyBusiness

Markets: India

Topics: Auto makers Luxury car discounts Heavy discounts Diwali discounts Business news Car industry slowdown

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-28 @ 03:18:05 (16 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 746 words

Reading Time: 5 minutes read

Sentences: 27 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 23274493

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