Mahindra, Tata’s Big Price Cuts In July: Reasons
As we all are aware, in the past few years, prices of cars in India have increased by as much as 25-30 percent. Also, automakers were emphasizing that there is a huge demand in the country and buyers will have to wait a long time to get the car they want. However, as the month of July commenced, a ton of automakers started offering huge discounts on their popular cars. Now, if you are one of those people who are curious to know what happened to these automakers, here is the reason.
Tata, Mahindra, and others offering huge discounts
Recently, a video has been shared on YouTube by Aristocar on their channel. In this video, the creator highlights the discounts being offered by Tata Motors and Mahindra, along with the Chinese carmaker BYD. He then mentions that there is a major reason behind these heavy discounts.
Why are these discounts being offered?
The primary reason behind these discounts, reaching up to Rs 9 lakh in some cars, is due to the car inventory levels being at an all-time high. It has been reported that there are currently Rs 60,000 crores worth of unsold cars lying in stockyards across the country.
It has also been reported that this number, instead of reducing, is on the rise. Hence, in their attempts to reduce these increasing inventory levels, the automakers in India have started offering huge discounts on their popular models.
Apart from this reason, another major reason behind these huge discounts is the delayed monsoon. In the last few months, India noted extremely high temperatures and heatwaves, which led to lower foot traffic in showrooms. Also, heavy rains are preventing buyers from visiting dealerships.
Lastly, banks are now becoming a lot more cautious while lending money to car buyers. Along with this, the increased interest rates have also caused a lot of people to put off their car buying plans. So, the combination of all these factors has made automakers offer massive discounts on their cars.
Mahindra, Tata, and BYD Discounts
Starting off with the discounts being offered by Mahindra Automotive, the company on the AX7 and AX7 L variants of its popular SUV, the XUV700, is offering major discounts. These offers range from Rs 1.45 lakh to all the way up to Rs 2.05 lakh on select variants.
Coming to the Tata Motors discounts, the company is offering discounts ranging from Rs 50,000 to all the way up to Rs 1.2 lakh. The discount of Rs 50,000 is standard across all variants, but some variants like the Adventure+ are being offered up to Rs 1.2 lakh in discounts.
As for the Tata Safari, the standard discount is Rs 70,000 on a majority of variants. Some select variants, like the Pure+, are being offered with discounts up to Rs 1.4 lakh. Lastly, BYD (Build Your Dreams), which is a Chinese EV automaker, is offering discounts of Rs 9 lakh on its Atto 3 SUV.
This SUV, which was launched with a price tag of Rs 33.99 lakh, is currently being offered for Rs 24.99 lakh. The BYD Atto 3 comes equipped with a single electric motor that delivers a power output of 204 PS and 310 Nm of torque. It is offered with two battery packs – 49.92 kWh and 60.48 kWh. These offer a range between 468 km and 521 km.