Showroom sales of Maruti in Dec stood at around 220,000 units, which is 18.18% higher than in year-ago period
The meltdown at Infrastructure Leasing and Financial Services Ltd towards the end of last year led to a credit crunch among NBFCS, squeezing loans for retail borrowers including car buyers.
According to the people mentioned earlier, the company offered significant discounts on all products at its Arena and Nexa chain of dealerships, aided by a slight recovery in customer sentiment in the second half of December.
Among others, Maruti offered a ₹25,000 discount on its compact SUV Vitara Brezza, one of India’s top-selling models with a waiting period of more than a month, said one of the two people cited earlier. On premium products such as the