Maruti Suzuki India, the largest car manufacturer in India is planning to continue offering discount schemes to its customers on car products in order to maintain and boost sales amid slowdown in the Indian car market.
According to Mr. Ajay Seth Chief Financial Officer Maruti Suzuki India, the discounts by the automaker will continue in light of the current market conditions. The automaker has been offering an average discount of Rs 17,500 across models in its car portfolio in India.
Sales in the Indian auto market have failed to grow even after a reduction from 12 percent to 8 percent in the excise duty on small cars by the Indian government as part of the revised budget in February 2014.
Mr. Seth added that while the carmaker is currently receiving inquiries for its car products, they are failing to get converted into sales.
The Japanese carmaker also has plans to invest an amount of Rs 4,000 crore in the current fiscal 2014-15 in the Indian market for the introduction of new car products along with marketing and research and development.
