A day after the big petrol hike, Hyundai has been quick to get off the block with a new marketing initiative to steady the sales of its large petrol car portfolio.
Under the ‘Petrol Price Lock Assurance', the Korean carmaker is offering a discount up to Rs 3,100 on petrol variants of the Eon, Santro, i10, i20, Accent and Verna. With this it is looking to insulate customers from the petrol price hike by paying the difference of the higher petrol price for the next seven months.
Mr Arvind Saxena, Director-Marketing and Sales, Hyundai Motor India, said, “The price hike is severe and we need to soften the blow for our customers.”
The program is valid on purchases made till May 31 and is being offered in addition to the 5-star Assurance Scheme announced for the Santro and i10 earlier this month, where it is offering a comprehensive service package ranging from maintenance to roadside assistance.
Carmakers with a high share of petrol models, such as Maruti Suzuki and Honda Siel, are also expected to follow suit with new offers to push sales.
The industry, which had been contemplating a price hike after the rupee slide of the last few weeks, is now caught in the backfoot as demand is expected to take a further dip on higher petrol prices.