Published on Sat, Jul 12, 2008 at 09:09 | Source : Business Line
Updated at Sat, Jul 12, 2008 at 09:21
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Maruti, Hyundai woo rival car owners
At a time when domestic automotive manufacturers are wooing car-owners with loyalty programmes and retaining them with sops and upgrades, two recent ads from Maruti and Hyundai are directly wooing rival car-owners with attractive inducements at ‘lower EMIs’.
Maruti's ad promises a lap of luxury and an "Upgrade to Business Class" offer in the form of offering Swift to existing Hyundai Santro owners. The old Santro is estimated at Rs 1.65 lakh and after discounts and other offers works out to Rs 2.36 lakh. The EMI is projected lower at Rs 6,210 as against the previous Rs 7,520.
Responding to Business Line, Mr Vinay Saboo of RKS Motors, a leading dealer in Maruti, said, "yes, we responded with an ad attracting Hyundai Santro buyers to upgrade to luxurious Swift."
However, the recent hike in interest rates for auto loans has had an impact on small car buyers. Many of them have temporarily postponed their plans and likely to re-consider during the festival season, Mr Talwar said.
The General Manager Sales at RKS Motors, Mr Rajesh Reddy, said that the one-time offer of exchange for Alto buyers is for a limited period. "Be it upgrade or new sale, such options are based on market realities. Response may vary from time to time. Efforts are on to help customers buy even though there has been an impact of higher interest rates on car sales," Mr Reddy said.
