Looking for the best time to buy a car? Bulk discounts have ended, thanks for the 70-75 days of unsold inventory!
OEMs (Original Equipment Manufacturers) are offering incredible offers to clear their inventory, which has reached 780,000 units worth Rs 77,800 crore. More discounts are expected as dealers and manufacturers look to move inventory before the end of the year.
- Huge discounts on cars until end of 2024.
- Huge cash benefits and additional accessories.
- By the end of August, unsold inventory had ballooned to 70-75 days.
Why are inventories soaring?
Several factors contributed to this unprecedented inventory crisis:
- Reduced consumer response: Retail sales fell as low consumer confidence led to delayed purchases. In August 2024, passenger car retail sales dropped by 4.53% year-on-year.
- High shipment volumes from OEMs: Manufacturers have been sending vehicles to dealers, but retail sales are seeing a slowdown, leading to growing vehicle piles.
- Holiday demand delayed: Festivals like Ganesh Chaturthi and Onam are not boosting sales as expected. Many consumers are waiting for major festivals such as Navratri and Diwali in October.
- damaging weather conditions: Heavy rain and flooding disrupted retail operations, causing potential buyers to delay purchases.
Manish Raj Singhania, President, FADA said: “Customers can expect better discounts, especially on models older than 60-90 days. Dealers are eager to restock!”
What you can expect:
- car loan offers: Lower interest rates, longer repayment tenure and lower EMIs.
- Additional benefits: Redeem for bonuses, free accessories and faster delivery times.
- Festival fun: The discount is expected to last till the end of Diwali. It may last until the end of the year.
Great deals on popular models
| model | Benefits (up to) |
| Maruti Suzuki Alto K10 | Rs 61,402 |
| Maruti Suzuki Wagon R | Rs 63,100 |
| Maruti Suzuki Swift | Rs 57,100 |
| Maruti Suzuki Brezza | Rs 42,000 |
| Maruti Suzuki Baleno | Rs 57,100 |
| Maruti Suzuki Franx | Rs 40,000 + Velocity Kit worth Rs 43,000 |
| Maruti Suzuki Grand Vitra | Rs 1.23 Lakhs + Free 5 Years Extended Warranty |
| Hyundai Grand i10 Nyos | Rs 48,000 |
| Hyundai Ora | Rs 43,000 |
| Hyundai i20 | Rs 45,000 |
| Hyundai Exter | Rs 32,972 |
| modern venues | Rs 70,629 |
| Tata Nexon | Price reduced by Rs 80,000 |
| Tata Harrier | Price reduced by Rs 1.60 lakh |
| thatta safari | Price reduced by Rs 1.80 lakh |
| Mahindra Bolero | Rs 86,500 |
| Mahindra Bolero Neo | 1.34 Lakhs |
| Mahindra Tal | 1.55 Lakhs |
| Mahindra Scorpio Classic | 1.2 Lakhs |
| Mahindra Scorpio-N | Rs 50,000 |
| honda lift | Rs 75,000 |
| honda city | Rs 1.14 Lakh |
| mass army | 120,000 rupees |
| Volkswagen Vitesse | 1 Lakh Rupees |
| Renault Tribe | Rs 50,000 |
| Reynolds Quaid | Rs 40,000 |
*Benefits vary by state.
Must read: Why is Honda City the most common sedan on Indian roads?
Unbeatable offer: don’t miss it!
While inventory is at an all-time high, these deals won’t last forever. If you’re looking for an entry-level or mid-level car, this is your chance to score a deal. The discount is expected to last till the end of Diwali and possibly till the end of 2024.
Take advantage of this holiday season and get behind the wheel of your dream car today!
See also: 7 Reasons Why Tata Nexon Is Successful in India
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