Reporter's Take | Here's why car companies and dealers are offering massive discounts

The auto sector has been witnessing a slowdown as sales have dipped and to attract buyers the car companies and dealers are extending discounts as high as Rs 1.77 lakh.

The move could help dealers get rid of existing stocks.

Earlier, car manufacturers were offering discounts between Rs 40,000 and Rs 5 lakh so that cars that comply with Bharat Stage IV (BS-IV) norms are sold and they could introduce BS-VI variants.

In this episode of Reporter's Take, Shraddha Sharma talks to Swaraj Baggonkar to find out why car manufacturers and dealers are eager to sell existing inventories.