[ManasN95]

Originally Posted by Shreyans_Jain

I expect to see massive discounts in the upcoming festive season across the board.

Would this concept be applicable for two-wheelers as well? I am in the market to buy a scooter to replace my 15+ year old Aviator, and would love to get the Access / Jupiter at a discount.

[creative420]

Originally Posted by ManasN95

Would this concept be applicable for two-wheelers as well? I am in the market to buy a scooter to replace my 15+ year old Aviator, and would love to get the Access / Jupiter at a discount.

This coupled with EV scooters now getable under 1lakh should ideally help correct the prices of the scooters.

[CARDEEP]

Originally Posted by DHARM

Discounts have started coming through M&M offering 1,50,000 to 2,20,000 on AX7 Models

https://www.autocarindia.com/car-new...-2-lakh-432189

Tata Motors too announced discounts across all ranges.

With UP govt announcing revision in Hybrid car taxes sales for Maruti and Toyota will move up as cars will be cheaper up to 3,50,000 thus both Mahindra and Tata will be forced to reduce prices & discounts specific to that region.

Fully agree, it seems the auto majors are fleecing us. The Hybrid policy is just helping the Japs with Hybrids, but then the companies always had the margins & were always blaming Government for higher taxes (compare this with Euro nations, say Turkey).

Also the discounts on Mahindra do not make any business sense as they had thousands of advance bookings. How much cancellations they expect out of Hybrids tax issue? Won't that be countered with long waiting list on Hybrid Innovas & Marutis?

[DHARM]

Originally Posted by CARDEEP

Fully agree, it seems the auto majors are fleecing us. The Hybrid policy is just helping the Japs with Hybrids, but then the companies always had the margins & were always blaming Government for higher taxes (compare this with Euro nations, say Turkey).

Also the discounts on Mahindra do not make any business sense as they had thousands of advance bookings. How much cancellations they expect out of Hybrids tax issue? Won't that be countered with long waiting list on Hybrid Innovas & Marutis?

If I am in the market to buy today than I will go for Innova Hycross hybrid at lower than/Equal to XUV 700 it is worth to join the wait list then buying pure diesel/petrol car for peace of mind on ever changing govt rules so this will happen in UP/Delhi/NCR areas unless you only want SUV

[ksaurabh21]

During the 2019 slowdown in auto industry, Govt was blaming millennials for not buying cars. I am eager to see what narrative they will push this time.

[IFB]

Originally Posted by Rajjaiswal92

I’ll give you some insider information, a friend of mine who owns several dealerships of a very prominent automobile brand has been approaching bankers to increase his funding limits, during the peak of demand and supply gap he was using not more than 25% of his limit. Things have changed starting this year, the usage of the limit kept on increasing and now the condition is such that he has exhausted his limits and need new ones, his yards are full and no buyer in sight.
I can guarantee the automobile bubble will burst by October, massive discounts would be offered, models would be axed and the market will again tip in favour of the buyer.

I was speaking to a dealer based in North India and mentioned that the sales has been lagging since many months for this OEM. He said he is facing issues in even paying his employees. He also mentioned that he may have to close the dealership if the demand remains like this.

[DHARM]

Originally Posted by IFB

I was speaking to a dealer based in North India and mentioned that the sales has been lagging since many months for this OEM. He said he is facing issues in even paying his employees. He also mentioned that he may have to close the dealership if the demand remains like this.

June sales for Maruti was at Par while for TATA it was down and they gave rationalisation of inventory as one of the reason, lets see what they will say for next month sales. Mahindra has lowered the price of XUV AX7 models which eventually cascade down to other models and they are doing this to beat impact of UP govt tax reduction on Hybrid and also to keep new orders flowing in to avoid the dip in the sales.

[shortbread]

Originally Posted by DHARM

June sales for Maruti was at Par while for TATA it was down and they gave rationalisation of inventory as one of the reason, lets see what they will say for next month sales. Mahindra has lowered the price of XUV AX7 models which eventually cascade down to other models and they are doing this to beat impact of UP govt tax reduction on Hybrid and also to keep new orders flowing in to avoid the dip in the sales.

I think maruti will keep pushing stock to dealers, any sign of monthly numbers declining will have an adverse impact on them. Their portfolio is too narrow and do not have any diversified sectors to fall back on like agriculture, commercial etc... Maruti will be the last player to rationalise, even bigger discounts coming up.

[pkk077]

Originally Posted by Acharya

In last 6-7 years, GST has grown from 80-90 Lakh Cr a month to 180-200L Cr a month.

You are off by a factor of 100.
GST collection is more like 2 lakh crore a month, and half of this is the states' share.

[Siavi]

I just hope that this doesn't lead to the auto lobby colluding with the government and the subsequent implementation of the 15/10 year car ban throughout the country. This would force people to buy new cars, just like the residents of NCR are forced to, even if they don't want to.

[akhil_007]

Originally Posted by krishnakumar

Home affordability is also at an all time low. Even a decent sized home around the fringes of Bangalore city costs 2 crores.

Spot on!! Trying to invest in some property to beat the inflation but the builders are pricing the properties 10 years from now!!

A recent ad on FM Radio talks about "New Whitefield" which is a term coined by the developer and its very far from Whitefield. Their quotes are in crores!! Brigade and Godrej have started the craze of selling micro sized apartments in North Bangalore as Premium Properties.

Until June, dealers were very hesitant to offer a single rupee discount, especially in Bangalore. Things have taken a drastic U-turn since then.

I really wish real estate does self correct itself but alas,only if wishes were horses

[vyom_elan]

Originally Posted by Siavi

I just hope that this doesn't lead to the auto lobby colluding with the government and the subsequent implementation of the 15/10 year car ban throughout the country. This would force people to buy new cars, just like the residents of NCR are forced to, even if they don't want to.....

Or worse, banning BS-IV vehicles(Diesels specially) prematurely. We are already "banned" to use BS-IV diesel and BS-III petrol vehicles during winters. Like always we are going to ignore the actual root cause for pollution in NCR and straight up ban BS-IV diesel vehicles

[JediKnight]

Originally Posted by krishnakumar

+1000 to this.

My last year’s increment was, get this, 0%. Yes. Zero. Not even enough to cover for the inflation for crying out loud. During the same period, expenses have increased at least by 30-40%. Rentals in Bangalore have skyrocketed. Home affordability is also at an all time low. Even a decent sized home around the fringes of Bangalore city costs 2 crores.

So true my company gave 0% increment for the past two years to everyone in the company. Also, zero bonus, which is big component of my compensation. I know many of my friends are in the same situation.

Meanwhile rents in Hyderabad have suddenly skyrocketed. The same crappy apartment that I live in rents have suddenly become 33% higher. For my kids the school increased fees and transport fees by 10% in just a year. Small 3bhks in my area are now 2 Crores plus registration plus cost of interiors if you can afford it. Plus, a massive FOMO created by builders. Buy now or we will increase rates so that you will be priced out forever.

Seems like everyone (Government, Real Estate, Schools etc.) are out there to suck the blood of the middle class.

[IFB]

Originally Posted by Siavi

I just hope that this doesn't lead to the auto lobby colluding with the government and the subsequent implementation of the 15/10 year car ban throughout the country. This would force people to buy new cars, just like the residents of NCR are forced to, even if they don't want to.....

Himachal Pradesh to Scrap 15-Year-Old Vehicles, To Establish 12 Scrap Centers Across Districts. No Reuse of Spare Parts; Scrap Policy Offers Up to 50% Discount on New Vehicle Registration.

Link of article below:
https://thenewshimachal.com/2024/07/...oss-districts/

[the.dogfather]

While we are talking about purchases like new cars, homes the prices for basics have gone up quite a bit in the last year. Just in the last 6 months the prices for vegetables and groceries have shot up like crazy, doubling for many items and going up at least by 20% for all items. In bangalore, I can notice my grocery bill inflate and we have started to look for more offers and discounts from stores little further away as compared to the nearest store.
With the rents, fuel and all other prices seeing such high inflation, a new car is not a priority anymore . I personally know of friends who have decided to wait till the metro gets constructed near the place to see if they really need a car. COVID and the sudden unavailability of cabs had pushed a lot of people to go for new cars, but the trend is reversing now. The new EV cabs are available when needed and the cab shortage also has come down. This has now made a car a luxury than a need, which is helping people to wait for a couple of years for the metro to be ready.