Tata Motors Slashes SUV Prices by Up to ₹2 Lakh to Revive Festive Season Sales
Tata Motors Slashes SUV Prices by Up to ₹2 Lakh to Revive Festive Season Sales
In response to declining passenger vehicle sales, Tata Motors offers steep discounts to attract buyers during the festive season.
Key Points
• Exciting new prices exclusively for the festive season – reduction of up to ₹2.05 Lakh on ICE vehicles
• Special prices offered on all SUVs and cars powered by Petrol, Diesel and CNG
Tata Motors has introduced price reductions of up to ₹2 lakh on its popular SUV models, including the Harrier, Safari, and Nexon, in an effort to stimulate demand amid a struggling passenger vehicle market. The company aims to counter a 3.46% month-on-month and 4.53% year-on-year drop in sales for August, as reported by the Federation of Automobile Dealers Associations (FADA).
The price cuts, varying based on location and dealership, are part of a broader strategy to encourage purchases during the festive season. In addition to discounted prices, buyers can also take advantage of exchange bonuses, cash offers, and additional perks like extended warranties and free accessories. These deals will be available throughout October, coinciding with the Diwali season.
Manish Singhania, president of FADA, highlighted the increasing concerns within the industry. “Inventory levels have reached alarming highs, with stock days now stretching to 70-75 days. Across dealerships, inventory totals 780,000 vehicles, valued at ₹77,800 crore,” he stated. Despite the market slowdown, manufacturers continue to dispatch more vehicles to dealers, worsening the overstock situation.
The festive season also faces challenges due to unexpected weather conditions. According to the India Meteorological Department (IMD), India experienced 16% above-normal rainfall in August, with more heavy rains expected in September. This could negatively impact crop yields, particularly in rural areas, potentially reducing purchasing power in those regions. Additionally, the Shraddh period, considered inauspicious for new purchases, may further slow sales ahead of the festive surge, adding pressure to dealerships managing high inventory levels.
