Discount on luxury cars: Audi, BMW, Mercedes Benz giving benefits up to Rs 8,50,0000 in festive season offers

With an aim to increase sales amid coronavirus pandemic, automobile giants like Audi, BMW, Mercedes Benz have come up with some lucrative offers for their customers during this festival season. These automobile companies, in order to increase sale of their cars, have come up with different offers, such as free insurance and service pack. Apart from this, ultra-luxury cars and SUV dealers are offering a decent discount of 5 to 8.5 per cent. In other words, a discount of Rs 2.5 lakh to 8.5 lakh is being given on actual price of these vehicles. 

Other than discount, Indirect offers like attractive financing solution, minimum resale value, free insurance of three to five years or service warranty and some other offers are also being offered to customers. 

"We have launched 'Celebration Ceremony Programs' on certain products for this festival season. This also includes low interest rate for five years. We are also offering special loyalty and exchange plans for our existing customers to make their purchase and upgrade plan easy for them," said Balbir Singh Dhillon, Audi India Chief. 

We have tied up with banks to offer our customers, who have shown interest in buying old cars from our Audi approved dealership, an easy EMI options, Dhillon said. 

We have noticed customers' interest in luxury car market and are optimistic that it will only grow stronger during festival season, he added.  

The company had launched Audi Q 2 just ahead of the festive season. Audi Q 2 was launched with five years' service pack, 2+3 years extended warranty and 2+3 years road assistance. The car was also launched with 'complimentary Peace of Mind' benefits. 

Keeping festival season in mind,  Mercedes Benz India is also providing attractive financial package under its “Unlock Samaroh.” Luxury auto makers are also wooing customers with several offers, including an EMI of Rs 39,999 and less is available for C-Class. Apart from this, an ROI of 7.99% along with an insurance for one year is also being made available to its customers for C- Class cars.   

Recently, the company has informed that it has sold 5,007 units between January 2020 to September 2020, which is seen as impressive improvement during the coronavirus pandemic. 

Another luxury auto maker, BMW Group India, is coming up with 'Easy start and BMW 360', which are providing many financial packages. Under Easy Start, the company is planning to provide 40% less monthly installment in its first 2.5 years. Also, the company is providing less interest rates on its different models. 

‘BMW 360’ plan is guaranteeing offers, such as less monthly installment, assured buy back price and term options. Besides, Automobile giant JLR is offering attractive ‘'Finance Offers EMI’' for its Land Rover Discovery Sport. 

ICRA Vice President Ashish Modani has said that all top luxury car OEM, directly or indirectly, are offering Attractive Financing Solutions (Directly—cash discount, exchange bonus and loyalty bonus) discount. 

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Modani was of the view that the of sale of luxury car might see a dip of 40% in 2020 due to less demand owing to Coronavirus.