Car Manufacturers to Offer New Discounts Under Scrappage Policy
According to reports, several manufacturers have responded positively to the request of the Union Minister.
Nitin Gadkari during a meeting with representatives from passenger and commercial vehicle manufacturers - the Society of Indian Automobile Manufacturers (SIAM) CEOs - urged them to offer discounts to customers who opt for a new vehicle.
The meeting was held in New Delhi at Bharat Mandapam.
According to reports, several manufacturers have responded positively to the request of the Union Minister.
Nitin Gadkari took to X to confirm the news.
“I am pleased to report that, in response to my recommendation, several commercial and passenger vehicle manufacturers have agreed to offer discounts for the purchase of new vehicles against the scrapping of older vehicles with a valid Certificate of Deposit,” read a post on his official X handle.
“This initiative will significantly advance our Circular Economy efforts, ensuring that cleaner, safer, and more efficient vehicles are on our roads,” he further added.
Reports suggest that car companies like Maruti Suzuki, Mahindra & Mahindra, Kia, Honda, Hyundai, Tata Motors, JSW MG Motor, Renault India, Toyota, Nissan India, and others have accepted to offer discounts.
These car manufacturers can offer discounts up to Rs 20,000 or 1.5 percent, whichever is lesser.
To get discounts, customers must have scrapped the vehicle in the last six months with the details linked to the Vahan system.
Besides this, these car manufacturers can also offer additional discounts on certain models.
An owner can get a discount related to the scrappage policy if he is scrapping his vehicle but not other discounts.
Discount for commercial vehicles:
On commercial vehicles, for vehicles weighing more than 3.5 tonnes, the discount available is 3 percent on ex-showroom prices. Similarly, it is 1.5 percent on vehicles weighing less than 3.5 tonnes.