SUVs that were enjoying crackling sales and long waiting periods sometime back are now being offered with massive discounts. As manufacturers desperately try to build demand in a sagging season, popular SUVs like Renault Duster and Nissan Terrano are also being offered with insurance and exchange bonuses.
Could the present time be the best ever for buying new cars or SUVs? The answer to this could very well be an emphatic “Yes”. Given the immense freebies and discounts that are being offered currently on vehicular models, you sure wouldn’t wan’t to miss this chance! Recently, I wrote about the older vehicular models that are being offered with discounts as the new facelifted ones inch closer to their launch dates. Often, this is done to ensure inventory clearance before the newer models arrive.
However, the current fiscal situation has pushed auto manufacturers to offer freebies and discounts on almost all of their models. Persistent inflation coupled with steep interest rates has culminated in the form of a weak buyer sentiment. As a result, the auto industry is going through a very tough time. Sales of passenger vehicles have taken a tumble, and thus automakers are rolling out various offers and freebies to build demand.
Not long back, Compact SUVs like the Ford EcoSport and Renault Duster had become the darlings of the Indian market. Offering the best of both worlds by combining SUV-like-presence with Hatch-like-driving-dynamics, these vehicles were gobbled up. But now, as demand slips, these vehicles no longer enjoy the attention they used to get. For example, the Nissan Terrano is offering a combined benefit adding up to INR 40,000/-. Similarly, the Renault Duster is offering a combined benefit tallying up to INR 25,000/-. Even the Mahindra Scorpio is accompanied by benefits worth INR 60,000/-.
These vehicles weren’t being offered with any such offers in he previous year. Analysts are infact stating that the discounts being offered in the automobile sector in the current year are probably the highest ever witnessed in history. And the windfall is expected to continue for three-four months more as the companies try to maximise the capacity utilisation of their facilities, and minimise inventory stockpiles.
What are you waiting for, then? Make hay while the sun shines!
Source - Economic Times