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June 2, 2001
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Money > Business Headlines > Report June 2, 2001 |
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Auto firms doling out lollies to beat the retreatV Phani Kumar Auto companies are back to offering expensive freebies in a bid to lure customers into going ahead with their automobile purchase plans, following the 19 per cent sales decline in April. This time, some, including Maruti Udyog and Hyundai, are taking the lucky draw route to beat the slack in market. On offer are freebies like junkets, car audio systems, gold coins and even cars. In what can be interpreted as a sign of their growing desperation, the freebies being offered through these lucky draws are over and above the auto loans that these auto companies have made available through auto finance companies at previously unheard-of rates, some as low as zero per cent for short-term loans. Maruti has introduced a scheme to reward eight customers who buy the Maruti 800 with a free trip for two to Nepal. To and fro air tickets and accommodation for three days and two nights are thrown into the package and the winners will be picked from lots in a weekly lucky draw. The company is also offering a free Kenwood car audio system, worth about Rs 10,000 on every purchase of the Maruti Omni. Hyundai, on the other hand, has introduced "dekhte dekhte do lakh", a scheme in celebration of the company nearing two lakh (200,000) vehicle sales in the country. Under this scheme, customers who buy the Santro or Accent before June 11, will become part of a lucky draw, the winner of which will take home another Hyundai car - a brand new Accent, for free. Among the two-wheeler companies, Bajaj Auto has taken an initiative called "Khulja sim sim", wherein prospective customers who register for a free test drive will be rewarded with a free gift. Auto analysts here, however, believe the "so-called short-term" freebies and subvention schemes will continue to rule the roost till demand for automobiles picks up. "Auto companies' margins are already squeezed because of the various subvention schemes in offer. They have no other option than to get the customer to the showrooms one way or the other, in order to spur sales," they said. Powered by YOU MAY ALSO WANT TO READ:
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