Nov 27, 2012: Luxury car makers BMW, Audi and Mercedes Benz after achieving a 30% annual growth over the past five years is now offering heavy discounts up to Rs. 10 lakh on certain models because of sluggish sales. Car manufacturers this year are facing an uphill task to meet their annual targets and have achieved only single digit growth. Together BMW, Audi and Mercedes Benz are offering discounts up to 15% and this is being offered at a time when the rupee as hit the nadir and it’s time for upward revision of prices. Industry experts say that this move is not going to affect the luxury car makers much since they enjoy a margin of 8-9% when compared to the small car manufacturers who enjoy just 2-3% margins. They also predict that the car makers may increase the prices in January as luxury car makers cannot go on extending discounts since it may affect their image.
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