Are you planning to buy a new car this festive season but are on the lookout for discounts? You don’t need to worry! You can avail up to a 3% discount on a new car, provided you adhere to a condition set by Union Minister Nitin Gadkari. Major commercial and passenger vehicle manufacturers are offering discounts ranging from 1.5% to 3% on new vehicle purchases in exchange for scrapping old cars during the festive season.
In an official statement released on Tuesday, it was noted that leading vehicle manufacturers expressed this agreement during a meeting with Union Minister for Road Transport and Highways, Nitin Gadkari. This initiative aims to enhance the optimal utilization of resources in a circular economy and promote the use of cleaner, safer, and more efficient vehicles across the country.
Nitin Gadkari’s Meeting with SIAM
Minister Gadkari chaired a meeting with representatives from SIAM (Society of Indian Automobile Manufacturers) at Bharat Mandapam on Tuesday. The statement indicated that during discussions, the Minister emphasized the importance of modernizing vehicles and recognizing the significance of resource optimization in the economy. Several manufacturers of commercial and passenger vehicles agreed to offer discounts for a limited period in exchange for scrappage certificates, as suggested by Gadkari.
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The statement elaborated that commercial vehicle manufacturers would offer discounts for two years, while passenger vehicle manufacturers would do so for one year. This discount initiative is aimed at encouraging the scrapping of older vehicles, ensuring that safer, cleaner, and more efficient vehicles take to the roads.
Companies Offering Discounts
According to the statement, Mercedes-Benz India has proposed a direct discount of ₹25,000, which is in addition to existing offers. Passenger vehicle manufacturers like Maruti Suzuki India Limited, Tata Motors, Mahindra & Mahindra, Hyundai Motor India, Kia Motors, Toyota Kirloskar Motor, Honda Cars, JSW MG Motor, Renault India, Nissan India, and Skoda Volkswagen India are also providing discounts for customers exchanging old cars for new ones.
During the past six months, a customer who scraps an old passenger vehicle can expect a discount of either 1.5% of the showroom price or ₹20,000 (whichever is lower) when purchasing a new vehicle. Manufacturers of commercial vehicles such as Tata Motors, Volvo Eicher, Ashok Leyland, Mahindra & Mahindra, and Force Motors are offering a discount equivalent to 3% of the showroom price for commercial cargo vehicles exceeding 3.5 tons.
