Hyundai slashes car prices by up to Rs.33,000

December 4th, 2008 - 7:29 pm ICT by IANS  

New Delhi, Dec 4 (IANS) In an attempt to boost sales in a depressed market, auto major Hyundai Motor India Thursday slashed prices of its cars by up to Rs.33,000, besides offering benefits like free insurance and exchange bonus.The company said in statement that its popular Santro model will now be cheaper by Rs.33,000 at Rs.299,000.

The price of Accent will go down by Rs.7,200 to Rs.499,903, while Verna will be cheaper by Rs.24,000, the company said.

Hyundai is also offering free insurance, exchange bonuses and free car accessories worth as much as Rs.15,000 to attract reluctant customers.

“The schemes announced should provide an impetus for our sales and offset part of the ownership cost, which has gone up considerably in the past few months,” Hyundai India senior vice-president (marketing and sales) Arvind Saxena said.

Car Sales figures have been plummeting since January 2008, leaving the auto industry in red. Rising inventory costs and slack in demand have led various auto makers to look up to the government for a possible cut in interest rates and excise duty.

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