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Maruti Honda Toyota Reduce Prices As Sales Dip
Honda started the price auto war by reducing the price of its flagship City sedan by a massive Rs.66,000. It also reduced the the price of the Jazz hatchback by Rs.1.7 lakhs to clear its stock. The Japanese carmaker is expected to launch a new variant of the Jazz with a price tag of Rs.6 lakhs which is one full lakh of rupees cheaper that the current version.
Maruti Suzuki which will launch the new Swift on August 17th will join the price war when it announces the price and specifications of the new car. The new Swift has been reported to have many more features than the current model. Yet Maruti Suzuki has decided to maintain the price of the new Swift at its current levels. This will not only retain its buyers but also pose a challenge to similarly equipped but higher priced Volkswagen Polo and Hyundai i20.
Toyota is another carmaker that is active in the auto price war. Toyota launched the Etios sedan last year with a starting price of Rs.4.8 lakhs. The recently launched Etios Liva hatchback also has a starting price of RS.3.99 lakhs.
Maruti Suzuki has acknowledged that carmakers are looking at reducing prices and are offering discounts to boost sales. Maruti Suzuki Chief General Manager (Marketing) Shashank Srivastava has stated: “ The July sales have come as a sharp indicator and discounts and price cut will become inevitable to maintain the momentum in sales. We are not going for any price changes but discounts and freebies could definitely rise to counter competition."
If other carmakers also join the auto price war consumers can be rest assured about finding a cheaper car than they had previously imagined. Every one have a huge market to cater to and not a single carmaker wants to see its market share drop.
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