Toyota, Mahindra push through new offers to boost festive sales

NEW DELHI:  India’s two top utility vehicle makers—Mahindra & Mahindra and Toyota Kirloskar Motor (TKM)—on Thursday announced several new offers in effort to push retail sales during the ongoing festive season. This comes at a time when automakers are facing a challenging situation where they have to ensure retail sales even though they have seen good wholesalesale demand in October .

Toyota said that the new schemes are intended to ease purchase decisions in the  festive season. The offers comprise an assured buy back option of 55 per cent on the company’s Yaris and Glanza models. In addition, TKM has also introduced a low-EMI scheme for the first six months across all Toyota models. It has also announced an EMI Holiday option of 3 months for all Toyota Customers.

M&M’s benefits includes an additional cash discount of up to Rs 11,500, lower interest rates and easy EMIs for government employees on its vehicle purchases. Under the ‘Sarcar 2.0’ programme, all government employees are eligible for additional cash discounts of up to Rs 11,500, zero processing and foreclosure fee, and lower interest rates.

Almost every automaker has been offering discounts, especially  for the less popular models. Mahindra was providing benefits up to Rs 3.05 lakh on the Alturas G4 in October 2020, while Toyota was offering benefits of up to Rs 50,000 on the Yaris. Naveen Soni, Senior VP, TKM, said, “A scheme that we have been running since last month, allows our customers to avail a Special Cash Package offer alongside the ‘Leave Travel Scheme’”.