New Delhi: Are companies being forced to cut prices due to the slowdown in the car market? Tata Motors And Mahindra & Mahindra has reduced the prices of some of its major companies SUV push to demand However, companies like Maruti, Hyundai and Honda are offering discounts on some models.
Tata Motors has announced discounts of around Rs 1.4 lakh on its two premium flagship SUVs. The Harrier is now available at Rs 14.9 lakh and the Safari at Rs 15.5 lakh. Even the Nexon EV is offered with a discount of Rs 1.3 lakh. Vivek Srivatsa, Chief Commercial Officer, Tata Passenger Electric Mobility, has termed it an “unprecedented benefit” that will increase customer reach. VehiclesHe said that benefits of up to Rs 30,000 are also being given on Punch Electric.
Mahindra & Mahindra also launched a special edition of the XUV7OO with a price cut. The fully loaded AX7 range of the XUV7OO now starts at Rs 19.5 lakh, which is a price cut of over Rs 2 lakh. “The price cut will enable more people to experience this range,” the company said.
Car sales have not rebounded to the level seen in the last few years. Factors impacting demand include a high base and other negative factors such as extreme heat, uncertainty over elections and expensive vehicles.
Maruti and Hyundai – the top two carmakers – reported weak growth in dealership deliveries in the month of June. While Maruti, which recently launched the new generation Swift, reported a 3% rise in dealer dispatches, Hyundai – which is now preparing for an IPO – remained steady at 0.2%.
Tata Motors has announced discounts of around Rs 1.4 lakh on its two premium flagship SUVs. The Harrier is now available at Rs 14.9 lakh and the Safari at Rs 15.5 lakh. Even the Nexon EV is offered with a discount of Rs 1.3 lakh. Vivek Srivatsa, Chief Commercial Officer, Tata Passenger Electric Mobility, has termed it an “unprecedented benefit” that will increase customer reach. VehiclesHe said that benefits of up to Rs 30,000 are also being given on Punch Electric.
Mahindra & Mahindra also launched a special edition of the XUV7OO with a price cut. The fully loaded AX7 range of the XUV7OO now starts at Rs 19.5 lakh, which is a price cut of over Rs 2 lakh. “The price cut will enable more people to experience this range,” the company said.
Car sales have not rebounded to the level seen in the last few years. Factors impacting demand include a high base and other negative factors such as extreme heat, uncertainty over elections and expensive vehicles.
Maruti and Hyundai – the top two carmakers – reported weak growth in dealership deliveries in the month of June. While Maruti, which recently launched the new generation Swift, reported a 3% rise in dealer dispatches, Hyundai – which is now preparing for an IPO – remained steady at 0.2%.