Cars will be cheaper before the festive season!
Good news has come for the customers who buy a car before the holiday season. Companies are giving a discount of 1.5% to 3.5% on buying a new car, but this discount will be available only when you scrap your old car. Some luxury car manufacturing companies are also giving discounts of up to Rs 25,000. In such a situation, other companies can also set their limit. The auto industry and the government are expected to release more information about this. Since the implementation of the scrapping policy in march 2021, Union minister Nitin Gadkari has been constantly motivating people to scrap old vehicles. For this, he is paying more attention to things like price and GST discounts.
The ministry had earlier given this suggestion to the organizations
In the year 2022, the ministry had suggested to the automobile organizations that they should give their members a discount of up to 5 percent on the selling price in exchange for scrapped vehicles. However, at that time the industry ignored this and worked in its own way.
Now the government has taken the initiative to set up 60 registered vehicle scrapping facilities and 75 automated testing stations. car sales in the country saw a slight decline in April-June. According to FADA, their dealers have a stock of about 7,30,000 vehicles, which is equal to two months of sales. However, SIAM says that this number is around 4,00,000 units.
According to sources, usually the demand remains low in the first few months, but this time it was even less than expected. The reason for this may be general elections, heavy rains and heatwaves. It is being said that companies may soon cut prices to sell this excess stock.
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