Indian auto giant Tata Motors, amidst high competition in the Indian market, has decided to cut the prices of its vehicles, excluding the Nano by Rs 29,000 to Rs 50,000. With the recent cut in prices, the company aims to draw in customers with a more attractive deal.
Moreover, the reduction of the price is in addition to schemes and discounts of Rs 25,000 – Rs 30,000 already available on models like the Vista, Manza, Indigo and Indica. People familiar with this development said that the sluggish market condition had forced the company to offer attractive prices.
An Indian dealer, on the condition of anonymity said, “The company has slashed prices by 50,000 straight from maximum retail price of Indica and Manza. This improves the value proposition further for these models and we hope we are able to liquidate the inventory with the revised prices”. the dealer added that the company is currently sitting on an inventory of 25,000 to 30,000 units at present.
Tata Motors wants to liquidate stock before the beginning of the next financial year. Last week, the company reported a fall of 62% in the local sales of its cars and SUVs for February 2013, to 10,613 vehicles. Tata is also taking all possible measures to keep its inventory under check.