ENA Sectors 2024-08-28 21:09:28 <p><span style="font-size:14px"><strong>New Delhi, Aug 28 (KNN)</strong> In a move aimed at advancing fleet modernisation and fostering a circular economy, several leading passenger and commercial vehicle manufacturers have agreed to offer substantial discounts on new vehicle purchases when old vehicles are scrapped.</span></p> <p><span style="font-size:14px">This announcement follows a significant meeting led by Union Road Transport and Highways Minister Nitin Gadkari at Bharat Mandapam.</span></p> <p><span style="font-size:14px">The new discount scheme is designed to incentivise vehicle owners to dispose of their outdated vehicles and opt for newer, more efficient models.</span></p> <p><span style="font-size:14px">Passenger vehicle manufacturers such as Maruti Suzuki, Tata Motors, Mahindra &amp; Mahindra, Hyundai Motor India, Kia Motors, Toyota Kirloskar Motor, Honda Cars, JSW MG Motor, Renault India, Nissan India, and Skoda Volkswagen India will provide a discount of 1.5 per cent of the ex-showroom price or Rs 20,000, whichever is less, for new cars purchased against the scrapping of a vehicle within the last six months.</span></p> <p><span style="font-size:14px">The discounts will be validated through the Vahan system, with potential additional incentives on select models at the discretion of individual manufacturers.</span></p> <p><span style="font-size:14px">In the commercial vehicle sector, companies including Tata Motors, Volvo Eicher Commercial Vehicles, Ashok Leyland, Mahindra &amp; Mahindra, Force Motors, Isuzu Motors, and SML Isuzu will offer a discount of 3 per cent on new cargo vehicles exceeding 3.5 tonnes GVW.</span></p> <p><span style="font-size:14px">A reduced discount of 2.75 per cent will apply for those using a Traded Certificate of Deposit fr0m a scrapped commercial vehicle. The scheme may also extend to buses and vans.</span></p> <p><span style="font-size:14px">Mercedes Benz India has introduced a special offer of Rs 25,000 off on new vehicle purchases, in addition to existing discounts, further encouraging buyers to take advantage of the scheme.</span></p> <p><span style="font-size:14px">The initiative, discussed with top industry officials including SIAM President Vinod Aggarwal and Maruti Suzuki India MD &amp; CEO Hisashi Takeuchi, is expected to boost vehicle safety and reduce emissions. The discount offers will be available for a limited period&mdash;two years for commercial vehicles and one year for passenger vehicles.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 39090 https://knnindia.co.in/news/newsdetails/sectors/vehicle-manufacturers-announce-discounts-to-promote-scrapping-ahead-of-festive-season 2024-08-28 21:09:28 knnindia.co.in