As the domestic auto companies have been on their toes to sell BS IV stock all through the year, and are still gearing up, before the new emission norms kick in, car buyers have a reason to cheer further as they can drive home a brand new car this month at record steep discounts. Further as the stock is depleting fast, such offers giving discount in the range of 5-15% may end soon. And companies are likely to increase prices beginning next year.
Maruti calls December offers to be the best this year, Hyundai terms it to be December delight and Tata Motors said the record high discounts are the best in this decade.
"We have almost sold out our BS-IV stock. The discount levels are some of the highest (where the options are still available); this is not sustainable. Price hikes will inevitably come from January on various counts - emission norms, safety norms, currency fluctuations...", Sashank Srivastava, the executive director for sales and marketing at Maruti Suzuk told a leading business daily emphasizing that this indeed is the best time to buy a car.
Maruti is currently offering discount in the range of Rs. 37000- Rs. 89000. The lowest discount is on Eeco and the highest is on Vitarra Brezza. Hyundai is offering discounts of Rs. 20,000 to Rs. 2 lakh across its product range and the highest for its old Elantra and Tuscon.
Tata Motors if offering discount of Rs. 77,500 on its hatchback car models to up to Rs. 2.25 lakhs on the Hexa.
It is generally in the last month that auto companies offer the highest discount and typically December accounts for as much as 8% of the overall industry sales. And in December 2018, flat sales growth was recorded at 2.38 lakh vehicle units.
Highest discounts in this month are likely to support retail sales growth amid demand slowdown.