With buyers putting off purchases for later, Car-makers like Audi, BMW, Mercedes-Benz have decided to give special benefits to spruce up the luxury car market ahead of the GST roll out
Words: Vandana Devi Images: Various Sources
Buyers are holding off their luxury car purchases till GST rolls out, as prices are set to drop. In a concentrated effort to maintain sales momentum before the roll out of GST, luxury car makers have decided to offer a large number of special benefits and price cuts to attract customers.
BMW will be giving benefits upto 12% on ex-showroom prices of select vehicles. Other benefits include reduced rate of interest, complimentary service and maintenance for 3 years, complimentary insurance for a year and assured buyback for upto four years. Audi is also offering such finance and insurance schemes, including service that covers full maintenance, warranty, wear and tear. These packages are only applicable till June of this year.
And the announcements from Audi and BMW’s side follows the decision made by Mercedes-Benz to cut prices of locally-assembled models. Mercedes-Benz India decided to pass on the GST benefits to customers by bringing down the transaction price of their ‘Made in India’ cars and this will result in reduction of Rs. 1.5 lakhs to Rs. 7 lakhs in their various models. This price reduction will vary from state to state. But these offers will definitely lead to some movement in the luxury car market, which would have otherwise hit a snag with people putting off their purchases till GST comes into play.