[ad_1]
NEW DELHI: Is the slowdown in the car market forcing companies to cut prices? Tata Motors and Mahindra & Mahindra have reduced prices of some of their key SUVs to give a push to demand even as others such as Maruti, Hyundai and Honda offer discounts on certain models.
Tata Motors has announced cuts of about Rs 1.4 lakh on its two premium flagship SUVs.The Harrier now comes for Rs 14.9 lakh and the Safari Rs 15.5 lakh. Even the Nexon EV has an offer of Rs 1.3 lakh discount. Tata Passenger Electric Mobility chief commercial officer Vivek Srivatsa termed them “never seen before benefits” to increase the accessibility of the vehicles. The Punch electric is also being offered with a benefit of up to Rs 30,000, he added.
Mahindra & Mahindra also launched a special edition of the XUV7OO with a price reduction. The XUV7OO’s fully-loaded AX7 range now starts at Rs 19.5 lakh, a price cut of over Rs 2 lakh. “The price cut will enable more people to experience the range,” the company said.
Car sales have been struggling to match the buoyancy that it witnessed over the past few years. Factors that punctured demand include a high base and other negatives such as severe summer heatwave, uncertainty around elections, and expensive vehicles.
The numbers in the month of June saw Maruti and Hyundai – the top two carmakers – report weak growth in dealerships deliveries. While Maruti, which recently launched the new-gen Swift, had a 3% growth in dealer dispatches, Hyundai – that is now preparing for an IPO – was flat at 0.2%.
Tata Motors has announced cuts of about Rs 1.4 lakh on its two premium flagship SUVs.The Harrier now comes for Rs 14.9 lakh and the Safari Rs 15.5 lakh. Even the Nexon EV has an offer of Rs 1.3 lakh discount. Tata Passenger Electric Mobility chief commercial officer Vivek Srivatsa termed them “never seen before benefits” to increase the accessibility of the vehicles. The Punch electric is also being offered with a benefit of up to Rs 30,000, he added.
Mahindra & Mahindra also launched a special edition of the XUV7OO with a price reduction. The XUV7OO’s fully-loaded AX7 range now starts at Rs 19.5 lakh, a price cut of over Rs 2 lakh. “The price cut will enable more people to experience the range,” the company said.
Car sales have been struggling to match the buoyancy that it witnessed over the past few years. Factors that punctured demand include a high base and other negatives such as severe summer heatwave, uncertainty around elections, and expensive vehicles.
The numbers in the month of June saw Maruti and Hyundai – the top two carmakers – report weak growth in dealerships deliveries. While Maruti, which recently launched the new-gen Swift, had a 3% growth in dealer dispatches, Hyundai – that is now preparing for an IPO – was flat at 0.2%.
[ad_2]
Source link
