Are you looking to buy a new car? Reading this will be to your benefit

If you have been planning to buy your dream car for long, then this is the right time to buy one because major car brands in India are offering highest discounts nowadays. According to The Economic Times, car manufacturers are offering discounts, freebies, exchange bonuses and heavy deals on their car models to boost sales in the fiscal end to show better numbers and improve their annual performance.

You must be surprised to know that in the current scenario, only 6 out of 150 different car models are attracting customers at full ex showroom price. As mentioned in the ET report, only Honda City, Maruti DZire, Hyundai's i20 Elite, Ford EcoSport, Skoda Octavia and Volkswagen Jetta are attracting customers for their full price, while the rest are depending on discounts or freebies, exchange bonuses or heavy deals on accessories to become sellable.

"There has been a consistent slowdown with only three top carmakers able to manage positive sales in the current fiscal. March is proving to be tough — retail sales are not picking up as corporate spend has dried up," Rakesh Srivastava, senior VP, marketing and sales, at Hyundai Motors told the financial daily.

Even the market leader Maruti Suzuki is feeling the heat. No wonder, it is offering upto 15% off the on-road price on all of its car models except DZire. "Market conditions are tough. Discounts have peaked as retail sales haven't picked up on a lacklustre Budget for the industry, and we are battling to beat last year's sales to remain positive on the sales chart," Maruti Suzuki executive director for (marketing & sales) RS Kalsi told the Economic Times.

(Image: Reuters)