Discounts ahoy!

Rising interest rates and sharp dips in consumer demand is not the best of news for car manufacturers in India. More so for the volume players in the Indian market.

ET reports that volume players like Tata Motors, Hyundai, Maruti and others are finding the going tough and most of the growth is coming from the huge discounts and subventions offered by manufacturers, dealers and financiers. Dealers are also stuck with rising inventory and are under pressure to push sales with high discounts. Industry growth is expected to fall to 8-9% in 2008 from 13-14% last year


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