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Coronavirus lockdown | No EMI for 12 months: Car-makers pull out all stops to lure back buyers

Automakers are desperate to get back on track after having sold zero vehicles in over 40 days

May 12, 2020 / 04:59 PM IST

Car-making companies have rolled out a series of schemes to attract buyers afresh as they simultaneously prepare to restart factories that have been shut for more than six weeks now.

Hyundai, Renault, Honda, Volkswagen, Mahindra & Mahindra, Tata Motors and Skoda Auto are offering finance options including some that allow the car buyer to start paying EMIs, twelve months after the purchase of the vehicle.

Besides the regular discounts on the Bharat Stage VI (BS-VI) cars like Polo and Vento, German auto giant Volkswagen (VW) is offering a 12-month EMI holiday wherein the car buyer will start paying regular EMIs from the second year of purchase.

Volkswagen reduced the prices of the Polo TSI Edition (Highline Plus MT variant) by Rs 13,000 to Rs 7.89 lakh and of the Vento by Rs 1 lakh to Rs 10.99 lakh. The entire bouquet of six finance scheme offerings by VW is also offered by sister brand Skoda Auto for its range including Superb and Kodiaq.