In December, almost all companies are offering year-end discounts on their cars. Some companies started giving these discounts in November itself. To attract customers, companies are also offering other benefits along with year-end discounts.
Overall, when you buy a car in the last month of the year, you get many benefits like an exchange bonus, corporate bonus, scrappage bonus, loyalty bonus, and special or extra offers along with a huge cash discount. Due to all these offers, the price of the car is reduced by several lakh rupees. For example, Mahindra is offering a discount of up to Rs 3.70 lakh on its car.
The real reason for getting a car cheaper in December
The big reason for getting a discount of lakhs at the year-end is that almost all the companies stop the production of the car before December arrives. They do this because the car which is made between October and December, becomes one year old in January due to its model year.
That is, the car which is made in 2024, technically becomes one year old in January 2024. Because of this, there are no customers to buy such a car in January. In such a situation, dealers give a discount of lakhs on MY2024 to clear the stock. Right now many dealers also have MY2023 cars.
Before January 2025, all the companies want to clear the stock of their cars. They want to sell all the models and all their variants this month. In such a situation, along with the offers of the companies, the dealers can also give you extra benefits from their side. Especially if the company’s car sales are low, or the sales of any model are down, then you can also ask for a good discount with the dealer. Let us first tell you about the year-end discount by car companies.
The year-end discount brings any new car into the second-hand category. We are saying this because the value of the car decreases without driving. A car of 2024 technically becomes one year old from January 1, 2025. In such a situation, when you buy any such car in 2025 and resell it in 2026, then it is called 2 years old. In such a situation, its price goes down a lot. In such a situation, while taking advantage of the year-end discount, customers of every category should keep some things in mind.
Buying a car from January 2025 is getting expensive
Customers are facing two big challenges regarding buying a car at this time. This includes the benefit of the year-end discount, but the loss due to the model year. Secondly, many companies are going to increase the prices of their cars from January. Hyundai, Nissan, Audi India, BMW India, and Mercedes Benz have already been included in this list. It is expected that this list will get longer before the end of December. These companies are going to increase the prices of cars by a maximum of 3%. In such a situation, there will be a difference of thousands of rupees in car prices depending on the model.