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<ul><li>Car sales typically accelerate around the closing months of the year which coincides with a bunch of festivities in India.</li><li>However, the demand seems weak and the sales may be lower than last year, according to a global brokerage CLSA.</li><li>The estimates are based on a survey of dealers across three big Indian states-- Maharashtra, Gujarat, and Kerala.</li></ul>The last few months of the year are dotted with festivities across India. Amidst celebrations, people end up spending on discretionary products like cars. However, the festive season of 2019 may not be so upbeat for Indian car makers as well as two-wheeler makers, despite deep discounts. A survey of dealers by global brokerage CLSA found that dealers continue to see weak demand and it fears lower sales compared to last year. "The latter part of the festive season, mainly in October this year, is typically more important for auto sales, but a weak start is still a concern," the report said. The surveys were conducted in three states-- Maharashtra, Gujarat, and Kerala-- which make up for a quarter of all country's car sales and 18% of all the two-wheeler sales in India. People are also waiting to see if the government will cut the Goods and Services Tax (GST) on automobiles and therefore delaying possible purchases. Marquee stocks like Maruti, M&amp;M, and Tata Motors have lost anywhere between a quarter and half of their share value in the period. Car sales in India have been on a downtrend for a year now due to many factors including a broader economic slowdown, tighter emission norms and higher taxes. 
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 Two-wheelers have been better off, until now. "Our survey indicates that channel inventories remain high and the extent is relatively more in two-wheeler. Absence of a meaningful pick-up in demand in the remaining festive season is thus likely to necessitate significant inventory correction, especially for two-wheelers," CLSA said. SEE ALSO: <a href="https://www.businessinsider.in/maruti-suzuki-july-sales-fall-by-33-5/articleshow/70477046.cms" data-type="tilCustomLink" target="_blank">Maruti’s July car sales fall by a shocking 33.5%, despite heavy discounts</a>

The festival season is off to a sombre start for India's car and two-wheeler makers

<ul><li><keyword id="44883" type="CITY" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword> reports a year-on-year decline by 33.5% in its monthly sales. </li><li>It has done worse than market estimates of 20.9%.</li><li>India’s largest car manufacturer Maruti Suzuki’s profits for the first quarter of FY20 also fell by 27.3%</li></ul>Maruti Suzuki has sold 109,264 units in July 2019, registering a steep 33.5% fall in sales compared to the same month in the previous year. On a monthly basis, its July sales have fallen by 12.3% from its June. Maruti’s sales are worse than what the market expected. Market research firm Emkay Global forecasted that its year-on-year sales would fall by 20.9%. 
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 This fall is in spite of increasing discounts. Bowing down to the intense sales pressure, Maruti had also been increasing its ‘total cash discounts’ offered to consumers. While Alto models saw an 8% increase in discounts as compared to June, the Celerio Automatic and Dzire Diesel versions saw a steep increase of 23% and 27% respectively. India’s largest car manufacturer Maruti Suzuki’s profits fell by 27.3%. It total sales for the first quarter of FY20 fell by 17.9% as compared to the same quarter last year. July brought no cheer for carmakers who are hoping for a possible turnaround. “Volume performance is expected to remain weak across segments due to a high-base effect, increasing cost of vehicle ownership, monsoon deficit and financing issues,” said a report by Emkay Global.

Maruti’s July car sales fall by a shocking 33.5%, despite heavy discounts

<ul><li>Latest data released by SIAM showed a continuing downward trend for the auto industry in India.</li><li>There was a downfall of 21% in the purchase of passenger vehicles sold in May, from 3 lakh units to 2.39 lakh units in the same month a year before.</li><li>In April, passenger vehicle sales were down by 17%.</li><li>The overall Commercial Vehicles segment registered a decline of 8.05% in April-May 2019. </li></ul>The sale of passenger vehicles declined by 18.82% in April-May 2019 over the same period last year, the worst in 18 years, according to data by Society of Indian Automobile Manufacturers (SIAM). Within the Passenger Vehicles (cars, UV’s/SUV’s,and vans), the sales for Passenger Cars, Utility Vehicle &amp; Vans declined by 22.98%, 6.15% and 28.57% respectively in April-May 2019, compared to the same period last year. The data showed a downfall of 21% in the sale of passenger vehicles in May, 2019 from 300,000 units to 239,000 units in the same month in 2018. As per <a href="https://timesofindia.indiatimes.com/business/india-business/passenger-vehicle-sales-decline-most-in-18-yrs/articleshow/69749043.cms">experts </a>, different factors may be contributing to this lowering trend in <keyword id="47168" type="COMPANY" weightage="20" keywordseo="Car-sales">car sales</keyword>. First being the declining health of the Indian economy. The GDP growth figure for the third quarter of FY19 was merely 6.6% — the lowest in five quarters. This can be a worrying situation for the government as well, because private consumption has been a strong pillar of India’s growth story, which is now slumping. Amongst other factors, slowdown in urban hubs is being attributed to the popularising shared mobility like Ola and UBER. Rising congestion on roads and improvement in public infrastructure are also important to this phase. Despite the addition of new models, such as Hyundai’s hatchback Santro, Maruti’s tallboy WagonR, TATA’s Harrier off-roader, and Mahindra’s Marazzo and XUV 300 SUV’s, buyers are not warming up to the new launches. In rural areas the slowdown in sales is being attributed to the stressed farm loans. In a statement, Director General of SIAM, Vishnu Mathur, <a href="https://timesofindia.indiatimes.com/business/india-business/passenger-vehicle-sales-decline-most-in-18-yrs/articleshow/69749043.cms">said </a>the “Buyers need affordability. The situation is very serious.” Mathur added that the industry is saddled with heavy inventory, and despite offering deep discounts and freebies, companies do not see fresh investments and expansion till the situation improves. The introduction of the new BS6 (Bharat Stage 6) emissions regulations from 1 April 2020, new technology will be needed to keep emissions in check, in particular for new diesel engine vehicles. These new add-ons are said to increase the prices of diesel cars even further and increase the gap between a new petrol car and a new diesel car by nearly ₹250,000.

Car sales in India have slumped to a 18-year low even after deep discounts

<ul><li>Market research reports say that July is going to see car sales continue to remain weak across all segments.</li><li>This also means that discounts per car are increasing heavily, Maruti Suzuki is leading the monthly discounts race. </li><li>Most car manufacturers saw their sales decline in the Q1 of FY20, also affecting their profits.</li></ul>Car sales have been slipping for the last eight months, and experts are predicting a tepid July month as well. As expected, manufacturers are rolling in discounts every month, to help push sales. Maruti Suzuki is leading the way with most ‘total cash discounts’ offered to consumers. While Alto models saw an 8% increase in discounts as compared to June, the Celerio Automatic and Dzire Diesel versions saw a steep increase of 23% and 27%. Weak sales to continue July isn’t going to bring in any cheer for carmakers who are hoping for good sales, according to a research report released by Emkay Global. “Volume performance is expected to remain weak across segments due to a high-base effect, increasing cost of vehicle ownership, monsoon deficit and financing issues,” the report said. <table style="border-width: initial; border-style: none; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Expected YOY drop in Sales </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Maruti Suzuki </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">20.9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">M&amp;M Auto </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">7.4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Tata Motors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">12.1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Hero Motocorp </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">11.7% </td></tr></tbody></table> The quarterly earnings reports of auto manufacturers also spell doom for the industry. India’s largest car manufacturer Maruti Suzuki’s profits fell by 27.3%. It total sales for the first quarter of FY20 fell by 17.9% as compared to the same quarter last year. Meanwhile, <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword>’ saw its cumulative income (Jaguar Land Rover included) dropped by 20%. And, the manufacturers are beginning to blame the government. “There is no demand and no private investment, so where will growth come from? It doesn’t fall from the heavens. The auto industry is going through a very difficult period. Cars, commercial vehicles and two-wheelers are going through a rough patch,” Rahul Bajaj, Chairman and MD of Bajaj Group said at his company’s annual general meeting. See Also: <a href="https://www.businessinsider.in/Narendra-Modi-has-a-new-problem-big-corporates-and-moneybags-are-angry/articleshow/70450878.cms">Narendra Modi has a new problem – big corporates and moneybags are angry</a>

Deep discounts fail as car sales are set to fall for the ninth straight month in July

<ul class="summary-list"><li>Many car shoppers say the price of electric cars is a barrier to buying one.</li><li>Now, there are more deals available for buyers considering going electric.</li></ul>Electric cars are seeing some of their best discounts yet.EV incentives hit 9.8% of their average transaction price (ATP), or $4,991 off the price of the car, in September, according to Kelley Blue Book. It's the first time EVs have been this highly discounted in four to five years (when there were much lower sales volumes), and it's crucial for the cars, <a target="_blank" href="https://www.businessinsider.com/us-electric-vehicle-buyers-cars-too-expensive-2023-1">the price of which many blame as a barrier to adoption</a>.Just a year ago, EV incentives were less than 2% of ATP, Kelley Blue Book data says.Prices averaged $50,683 last month, down significantly from more than $65,000 in a year ago. That makes EVs, on average, still more costly than the $47,899 ATP for a vehicle overall, but when taking into account the EV discounts, the two start to look pretty similar in pricing. Of course, $100,000-plus luxury EVs and $35,000 economy plug-ins each skew those numbers.But as more automakers scale, more affordable products becomes available, and drivers make the switch, costs are generally dropping.Interestingly, incentives for vehicles overall last month were only about 4.9% of ATP, according to Kelley Blue Book, or $2,368 — improving, but low compared with historic rates. For context, overall new car incentives were as high as 10.2% in September 2019, pre-pandemic.These deals became hard to come by during the car supply-and-demand crunch throughout COVID when inventories were low and <a target="_blank" href="https://www.businessinsider.com/new-cars-selling-below-sticker-price-first-time-in-years-2023-4">shoppers were paying over sticker price just to get a new ride</a>. Now, <a target="_blank" href="https://www.businessinsider.com/car-buying-tips-discounts-incentives-rebates-increase-high-interest-rates-2023-3">these price cuts are slowly returning</a>, just at much lower rates.But EVs themselves are seeing incentives close to pre-COVID levels. In fact, second to high-end luxury cars, EVs saw the most deals of all vehicle segments last month.<h2>Why incentives for EVs matter</h2>Since much of the talk around EVs has involved their often-hefty cost, seeing prices drop in one way or another will be key to adoption. It's this idea of price parity — or <a target="_blank" href="https://www.businessinsider.com/electric-cars-cost-versus-gas-powered-vehicles-2023-4">electrified cars costing about as much as their gas-run counterparts</a>. So far, only <a target="_blank" href="https://www.businessinsider.com/electric-vehicles-pricing-mass-market-luxury-parity-2023-10">high-end EVs are running the same as equivalent internal combustion engine cars</a>; mainstream EVs aren't quite there yet.As one signal that prices will improve, <a target="_blank" href="https://www.businessinsider.com/electric-vehicle-inventory-most-least-dealerships-availability-hyundai-kia-2023-6">EV inventory is building up on dealership lots</a>, and <a target="_blank" href="https://www.businessinsider.com/auto-dealerships-inventory-electric-vehicles-gas-cars-key-problems-2023-6">that's not necessarily a bad thing for EVs</a>. To some extent, that's a function of automakers stretching their manufacturing capacity and <a target="_blank" href="https://www.businessinsider.com/electric-car-price-cuts-hurt-early-adopters-tesla-price-war-2023-7">finally getting EVs</a> off assembly lines en masse.However, because dealers became comfortable during COVID <a target="_blank" href="https://www.businessinsider.com/automakers-low-inventory-maximize-profits-supply-chain-constraints-car-buyers-2023-5">operating with lean inventories</a> on their lots, <a target="_blank" href="https://www.businessinsider.com/dealers-turning-away-evs-velectric-cars-demand-cools-inventory-2023-8">many aren't so thrilled</a> about <a target="_blank" href="https://www.businessinsider.com/ford-electric-vehicle-inventory-problem-trying-to-beat-tesla-2023-7">EVs piling up</a>, especially when much of the gas-car supply hasn't yet recovered. There was 97 days' supply of EVs at dealerships across the country at the start of October, compared with about 50 days' supply for vehicles overall, according to <a target="_blank" href="https://www.coxautoinc.com/market-insights/kbb-atp-september-2023/#:~:text=The%20high%2Dend%20luxury%20car,size%20pickup%20trucks%20at%206%25.">Kelley Blue Book</a>.It's not just about progress and scale, or about dealers wanting to rid themselves of inventory (which they have to pay for in the form of sky-high floor plan costs right now), it's also about demand. Some would argue that, given the EV market has nearly fulfilled the needs of early adopters, the next wave of buyers will be trickier to tap into, thus creating a <a target="_blank" href="https://www.businessinsider.com/ev-electric-car-sales-plateau-early-adopters-competition-2023-8">slight EV buying slowdown</a>.As a result, <a target="_blank" href="https://www.businessinsider.com/electric-vehicle-discounts-price-cuts-affordable-tesla-competitor-2023-8">all sorts of EV offers are starting to become available</a>. Interested car shoppers can get <a target="_blank" href="https://www.businessinsider.com/best-electric-vehicle-lease-deals-monthly-payments-this-summer-2023-8">great lease deals on plug-in vehicles</a> right now — and don't forget the <a target="_blank" href="https://www.businessinsider.com/automakers-electric-vehicles-tax-credits-commercial-vehicle-7500-2023-1">commercial EV tax credit could get you a tax discount for leasing,</a> similar to the one you receive if <a target="_blank" href="https://www.businessinsider.com/tesla-tax-credit">you all-out purchase a qualifying electric car</a>.Have you bought a discounted EV? Were you on the fence about buying an EV until it was sold with incentives? Are you a dealer or car salesperson selling EVs with incentives? Reach out to this reporter at astjohn@insider.com.

Electric cars are seeing their highest discounts yet

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 <keyword id="20630" type="CITY" weightage="60" keywordseo="Honda">Honda</keyword> City, <keyword id="484565" type="UNKNOWN" weightage="60" keywordseo="Maruti-Dzire">Maruti DZire</keyword>, <keyword id="596" type="CITY" weightage="80" keywordseo="Hyundai">Hyundai</keyword>'s i20 Elite, Ford EcoSport, <keyword id="6361542" type="CITY" weightage="60" keywordseo="Skoda">Skoda</keyword> Octavia and <keyword id="190257" type="ORGANIZATION" weightage="60" keywordseo="Volkswagen-Jetta">Volkswagen Jetta</keyword> 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 <keyword id="152634" type="CITY" weightage="60" keywordseo="Hyundai-Motors">Hyundai Motors</keyword> told the financial daily. 
 Even the market leader <keyword id="44883" type="CITY" weightage="80" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword> 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 &amp; sales) RS Kalsi told the Economic Times. 
 
(Image: Reuters)

Are you looking to buy a new car? Reading this will
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<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div><ul class="summary-list"><li>The automotive research firm <a href="https://www.iseecars.com/black-friday-car-deals-study">iSeeCars.com</a> has compiled a list of 10 cars that are the most discounted on Black Friday.</li><li>One luxury car and one pickup truck made the list: the <a href="https://www.businessinsider.com/category/porsche">Porsche</a> Macan and <a href="https://www.businessinsider.com/category/nissan">Nissan</a> Titan, respectively.</li><li>The list is topped by the <a href="https://www.businessinsider.com/category/toyota">Toyota</a> Sequoia with a savings of 10.38%, which is approximately $2,879.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>The automotive research firm <a href="https://www.iseecars.com/black-friday-car-deals-study">iSeeCars.com</a> has compiled a list of 10 cars that are the most discounted on Black Friday.The firm found that there are 33.1% more used car deals on the post-turkey Friday than average. And in general, the month of November has the most car discounts and sales."Black Friday aligns with the height of new vehicle buying season, when customers are able to take advantage of financing offers, rebates, and lease deals," iSeeCars CEO Phong Ly said in a statement. "As a result, there is a high inventory of trade-ins that car dealers want to move off the lot."iSeeCars analyzed over 41,000 cars sold on Black Friday last year to see which cars had the best deals."While many are aware of the widespread sales offered on this day, consumers might not realize it extends to used cars as well," Ly said.Two Toyotas made the list: the Toyota Sequoia and Toyota Sienna in first and fourth place, respectively. Ly claims this is because the automaker is known for making durable cars, and the family vehicle-oriented Sequoia and Sienna are both "attractive options" because of their sufficient space and cargo room.Meanwhile, three of the <a href="https://www.businessinsider.com/cars-that-will-be-discontinued-in-the-next-year-2019-9">cars on the list will be discontinued after this year</a>: the <a href="https://www.businessinsider.com/category/volkswagen">Volkswagen</a> Beetle, <a href="https://www.businessinsider.com/category/fiat">Fiat</a> 500, and <a href="https://www.businessinsider.com/category/ford">Ford</a> Fiesta.The average used car savings is 6.1% on Black Friday. The 10 cars on this list have at least a savings of 8.12% up to 10.38%.Get the latest Ford stock price<a href="http://markets.businessinsider.com/stock/f-Quote"> here.</a>

You Searched For "car discounts" and got 7 results

The festival season is off to a sombre start for India's car and two-wheeler makers

Sriram Iyer

Maruti’s July car sales fall by a shocking 33.5%, despite heavy discounts

Sanchita Dash

Car sales in India have slumped to a 18-year low even after deep discounts

BI India Bureau

Deep discounts fail as car sales are set to fall for the ninth straight month in July

Sanchita Dash

Electric cars are seeing their highest discounts yet

Alexa St. John

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

BI India Bureau

These 10 cars will have the best discounts on Black Friday, according to the data

Brittany Chang

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