As Diwali approaches, the automobile industry has geared up to offer discounts as customers tend to buy cars and two-wheelers during the festive season.
Maruti Suzuki India Limited recorded sales of 1,99,217 units across the country during the month of October as against 1,67,520 last year during the same period.
The mini segment comprising Alto and S-Presso saw a decline in sales, recording 14,568 this October compared to 24,936 units in the same month in 2022.
The compact segment which includes Baleno, Celerio, Dzire, Ignis, Swift, Tour S, and Wagon R saw an increase in sales, recording 80,662 units in October this year compared to 73,685 units last year.
“We are offering a tentative discount between Rs 30,000 to Rs 60,000 on cars like Brezza and Swift because there is a large profit margin on these cars. However, it’s not possible for us to give discounts on cars like Ertiga because they are already in demand,” said Mahesh Bhatt, manager at a Maruti Arena showroom in Noida.
“Overall, we have observed that we have been able to sell around 200 units [in each of the Maruti Arena showrooms] in the month of October alone. We have seen an increase in sales from last year, and we are planning to sell 150 units till mid-November. Most of the sales take place during Dhanteras and Diwali,” he added.
The Maruti Arena showrooms, which feature popular cars like Swift, Dzire, WagonR, and Ertiga, are offering discounts between Rs 45,000 to Rs 60,000 for Brezza, Alto K10, S-Presso, and Celerio. The WagonR and Swift carry a discount of up to Rs 44,000.
In Nexa showrooms, which feature cars like Baleno, Ignis, and Ciaz, the offer is up to Rs 75,000.
Hero Moto Corp, in an effort to increase the sales this year, announced the second edition of Hero GIFT — the Grand Indian Festival of Trust.
The program encompasses new model refreshes, colour schemes, benefits, finance schemes, among others. It started in 2022 and this year the campaign is Iss Tyohar, Nayi Raftaar.
“The program is a gesture of gratitude to commemorate the unwavering trust that customers have reposed in us,” said Ranjivjit said, Chief Business Officer.
“We are a loved household brand in the country, so we take pride in bringing the best for our customers. Through the program, we aim to offer an exciting range of motorcycles and scooters with attractive finance schemes and low interest rates that will empower the customers to bring home iconic Hero products,” he added.
In colour scheme, the organisation will feature Hero Xoom LX in pearl white silver, Pleasure LX in matte vernier grey, and Pleasure CX in teal blue and matte black trims, among others.
Hero MotoCorp will also offer several new benefits like cash bonus up to Rs 5500 and exchange bonus up to Rs 3000 and exciting finance scheme of Buy Now, Pay in 2024.
According to the programme, customers also have an opportunity to secure loans at a low-interest rate of 6.99%, free from hypothecation fees, and benefiting from Aadhar-based loans and convenient cash EMIs. Hero MotoCorp has also planned a panIndia 360-degree campaign on TV, print, digital and OOH. “We do not have discounts on popular bikes such as Splendor Plus or HF Deluxe but we do give a Rs 3000 bonus on an exchange offer,” said a sales representative of Hero Moto Corp showroom in Kashmere Gate.
“This started in Navratri here and will continue in Diwali and Dhanteras season as well.”
Hyundai is also offering exchange offers and straight-up discounts following the festive season. The company’s Alcazar, which is placed above Creta in sales, is being offered discounts of up to Rs20,000. Moreover, the company is also offering up to Rs 33,000 discount on Hyundai Aura and Rs 43,000 on Grand i10 Nios, and up to Rs 30,000 on i20.
In a similar breath, Ola Electric is offering up to Rs 24,500 off on e-scooters and is also providing up to Rs 10,000 discount on exchange offer. The offer scheme also includes 5-year battery warranty for Ola S1 Pro 2nd Gen and 50% battery extension discount on S1 Air.