A price war is developing in India as car demand cools in the traditionally slow monsoon season and on the back of rising inflation, alongside growing market supply from a number of manufacturers.
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The Economic Times of India has reported that General Motors India (GMI) has announced a special offer price of Rs 2.66 lakh (ex-showroom, Delhi) for its Chevrolet Spark.
The base variant of Spark without air-conditioning and power steering will come at an all-India price of Rs 2.66 lakh. GMI vice-president (marketing) Ankush Arora said: “The special price comes on the back of improved localisation of Spark and operational efficiencies due to increase in production volume. We are operating at maximum capacity for Spark at the Halol plant in Gujarat, which has allowed us to offer a lower price to customers.”
The car now comes almost Rs 55,000 cheaper than its last year’s launch price of Rs 3.09 lakh (ex-showroom Delhi). This is the second time the price of Spark has been reduced. GMI had started a centenary offer last year, when the price was reduced to Rs 2.7 lakh (ex-showroom Delhi).
The newspaper reports that discounts on many popular cars are at an all-time high. Maruti’s Alto and Zen Estilo compact cars are now available with a price waver of up to Rs 52,000 while Mahindra Renault Logan discount goes up to Rs 55,000. To beat the sluggish monsoon market, manufacturers are offering rebates of up to 15% on the ex-showroom price of their products.
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By GlobalData
