December has always been the month of freebies, discounts and deals in the auto sector. But this time, the competition is huge as all companies are rushing to clear up their stocks by offering much more than what they used to, as a result of demonetisation. This news also comes as a warning signal for the price hike expected next year owing to the rise in raw material prices. Most companies like Toyota have already announced a rise of 3% in January 2017 while Honda is likely to raise the price by 2%.
Auto Companies are trying their best to keep up the retail sales in December by offering discounts as much as 20% and benefits like 100% financing,EMI holiday schemes and so on. Best seller vehicles are said to have lesser discounts while Diesel variants and slow movers will be offered more.
• Maruti Suzuki has been reportedly offering discounts as much as 50,000 to 60,000 on their small cars.
• Toyota has come up with benefits like 100% finance, EMI holiday schemes like Buy Now and Pay Later on all their models and even a special EMI package of Rs.22,999 for select Innova Crysta
• Hyundai has offered 5 year old prices for Hyundai Eon and i10, while a savings of Rs.35000 to 90,000 can be availed on the Grand i10, Xcent and Elite i20, and Rs.1 to 2 lakh discounts offered on the Verna and Santa Fe
• Renault has announced benefits worth Rs.1.2 lakh on Duster AMT and Rs.1 lakh on Lodgy
• M & M has come up with offers ranging between Rs.30,000 and one lakh for its utility vehicles.
• Honda offers cash benefits upto Rs.1 lakh across select variants.
Auto Companies are also simultaneously offering 100% finance support to help their customers come forward, without having to pay a margin amount from their end unlike previous times, at this juncture post demonetisation.
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