Average Incentives Offered On Hatchbacks By Automakers India Up By 31% In 2020
Average Incentives Offered On Hatchbacks By Automakers India Up By 31% In 2020
According to the latest findings by Jato Dynamics, the average incentives offered on the hatchback and MPV segments have gone up by 31% and 3% respectively on an annual basis.
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| Average Incentives Offered On Hatchbacks |
The Indian automotive market is constantly changing,
and now due to demand, due to lockdown, consumer expectations are very high. Considering that the customers are not ready / cannot go to the showroom, the vehicle manufacturers are doing their best to meet the demands of the customers. On more than one occasion, customers are now seeking discounts from automobile manufacturers and this is not easy given the current situation. Although a lot of carmakers are introducing incentives on cars, to influence sales numbers and help maintain a balance between supply and demand, Jato Dynamics, the global supplier of automotive business intelligence, has released its findings , On which the car segment has seen more incentives. The survey says that incentives offered by companies in the hatchback segment increased by 31 percent in 2020 compared to 2019.
The incentives given in the hatchback segment for the year were 88 17,888 last year
which increased to 31,8 percent. In particular, higher incentives given by OEMs reduce upfront costs but may result in higher depreciation.
With increasing demand for SUV style vehicles,
OEMs reduced the average incentive by 50 percent. Last year, the average incentive which was 23,400 on SUV-styled vehicles was reduced to 11,797 by OEMs this year. A similar trend was also recorded for the sedan segment. The average incentive on sedans fell by 34 percent on an annual basis. Offered last year, the average incentive ive was 17,754, of 26,958.
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