
He was speaking at the 64th Edition of the Automotive Component Manufacturers Association (ACMA) convention in New Delhi.
Share Post
He was speaking at the 64th Edition of the Automotive Component Manufacturers Association (ACMA) convention in New Delhi.
Ahead of the festive season, the Minister of Road Transport and Highways Nitin Gadkari, today said that automobile manufacturers will offer up to a 3 per cent discount on all new car purchases if the owner decides to scrap his/her previously owned vehicle. He was speaking at the 64th Edition of the Automotive Component Manufacturers Association (ACMA) convention in New Delhi. While this brings a lot of cheer for consumers looking for a new vehicle in the market, 3 per cent is not that high a discount.
Also Read: “Not Against Petrol And Diesel Cars”, Says Nitin Gadkari
On a question whether this discount could go up, Gadkari said, “I am talking very frankly I don't need to make any request to anybody because everyone is coming to increase their sale and if you want to capture the market there is no option either you like it may not like it he has to increase the discount.”
65-70% of the population belongs to agriculture but their contribution to India's GDP was just 12%. Bio-fuel will help farmers double revenue, and help save on our imports – Gadkari clarifies his stance on petrol and diesel vehicles.
— Acko Drive (@AckoDrive) September 9, 2024
Gadkari stated that India held a competitive edge when compared to other markets as it has the advantage of having low labour costs, producing high-quality products and also having rapidly advancing technologies. The government’s efforts to focus on the scrapping policy will also lead to a reduction of approximately 30 per cent (approximately) in manufacturing costs as materials like aluminium, copper, steel and rubber will be recycled.
Also Read: Nitin Gadkari Announces Incentives for Vehicle Scrapping
Talking further about the discount for consumers on new vehicles, the Minister said, “If the product is offered at a good rate or reasonable they (car manufacturers) will get a good turnover. If they are not ready for that they have to face the music. So these are very intelligent people, they understand the business so 100 per cent they are going to increase their discount and I don't need to tell them because they understand what is the benefit in there.”
Porsche Cayenne, Cayenne Coupe Black Edition Launched; Prices Begin At ₹1.8 Crore
Pratik Rakshit 18 Jul, 2025, 1:40 PM IST
Indian Tyre Sector Will Grow 7-8% This Year: Report
Sutanu Guha 18 Jul, 2025, 12:13 PM IST
BatX Energies, Rocklink To Launch Rare Earth Magnet Recycling In India
Tushaar Singh Gill 18 Jul, 2025, 11:54 AM IST
Mahindra Teases Vision.X Electric SUV Concept, Full Reveal Set for August 15
Pratik Rakshit 18 Jul, 2025, 10:44 AM IST
Maruti Suzuki Set for Major Launch on September 3 – Is It the New Escudo SUV or e-Vitara EV?
Pratik Rakshit 18 Jul, 2025, 8:26 AM IST
Looking for a new car?
We promise the best car deals and earliest delivery!