Festive Vehicle Discounts Announced Following Minister's Meeting

Ahead of the festive season, several vehicle manufacturers have announced discounts of 1.5-3% on new vehicle purchases when an old vehicle is scrapped. This decision followed a meeting with Union Minister Nitin Gadkari, aimed at promoting fleet modernization and a circular economy. The discounts are valid for a limited period.

In the lead-up to the festive season, multiple passenger and commercial vehicle manufacturers have agreed to offer discounts ranging between 1.5 to 3 percent on new vehicle purchases when old vehicles are scrapped. This decision follows a meeting chaired by Union Minister Nitin Gadkari, according to an official statement released on Tuesday.

The statement highlighted that Mercedes Benz India will provide a flat discount of Rs 25,000 in addition to all existing offers. The meeting, attended by top officials from the automobile industry, addressed pressing issues, including fleet modernization and circular economy principles.

Manufacturers such as Maruti Suzuki, Tata Motors, and Ashok Leyland have committed to these incentives, which are expected to be valid for one year for passenger vehicles and two years for commercial vehicles. The move aims to promote the scrapping of older, less eco-friendly vehicles for safer, cleaner options.

(With inputs from agencies.)