In order to boost sales and have a greater market share in the country, Japanese automaker Nissan Motors India has announced a new EMI scheme which will make payment easier for buyers. The new scheme reduces EMIs by as much as 40%. The new scheme will be valid up to 3 years and will ask buyers to pay only 34 percent of the cost as down payment when making the purchase. HDFC, ICICI, Kotak and Tata Capital are partnering Nissan in this scheme of theirs.
According to Nitish Tipnis, Sales and Marketing Executive at Hover Automotive, the new scheme has been announced keeping the market sentiments in mind. Since the market is witnessing a negative customer sentiment and almost no growth in sales, this easy EMI scheme might just act as a catalyst in improving volume and customer confidence.
In the last fiscal, Nissan managed to hike 11 percent growth in its sales volume where it sold 36,975 units compared to 33,270 units sold in the previous fiscal. But even after that overall market sentiment in India is grim and no big changes in that are expected in this fiscal as well.