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Last Updated : Dec 06, 2016 09:52 AM IST | Source: Moneycontrol.com

Demonetisation: Car makers dangle discount offers to woo customers

Car companies have announced discounts in the range of 10-20 percent in December to stabilise the weak demand caused mainly due to the government‘s demonetisation move.

 
 
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Moneycontrol Bureau

To cope with the currency ban, carmakers are offering freebies to boost retail sales this month. What makes these deals sweeter is the chance to make purchases before a price increase that manufacturers are planning to take starting January due to rising raw material cost.

Car companies have announced discounts in the range of 10-20 percent in December to stabalise the weak demand caused mainly due to the government’s demonetisation move.

Maruti is offering discounts between Rs 50,000-60,000 on small cars like Alto and WagonR. Hyundai is also offering discounts on i10 and Eon while M&M is luring customers with cash benefits between Rs 30,000 and Rs 1 lakh.

Meanwhile, some companies have already said they will raise prices come January. Toyota is planning an increase of 3 percent while for Honda India it could be by 1.5-2.0 percent.

The companies have also introduced 100 percent financing for buyers in order to help them wade through the currency crunch. Usually, 70-80 percent financing is done by banks while the balance has to be financed by the buyer as margin money.

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First Published on Dec 6, 2016 09:17 am
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