<p>For those people who are planning to buy a new car or any other vehicle, scrapping the old vehicle&nbsp;can now prove beneficial as commercial and passenger vehicle manufacturers are willing to offer a discount if they have a valid Certificate of Deposit.&nbsp;</p>

<p>Union Minister for Road Transport &amp; Highways Nitin Gadkari announced the discounts in a meeting with the representatives of commercial and passenger vehicle manufacturers.&nbsp;</p>

<p>He appealed to the industry to give discounts on purchasing new vehicles to the customers who scrap their old vehicles.</p>

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<p dir="ltr" lang="en">📍𝑩𝒉𝒂𝒓𝒂𝒕 𝑴𝒂𝒏𝒅𝒂𝒑𝒂𝒎, 𝑵𝒆𝒘 𝑫𝒆𝒍𝒉𝒊<br />
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Chaired a highly productive session of the SIAM CEO’s Delegation Meeting at Bharat Mandapam today, where we addressed various critical issues facing the automobile industry.<br />
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I am pleased to report that, in response to my… <a href="https://t.co/9n4aUdgoby">pic.twitter.com/9n4aUdgoby</a></p>
— Nitin Gadkari (@nitin_gadkari) <a href="https://twitter.com/nitin_gadkari/status/1828354267910152384?ref_src=twsrc%5Etfw">August 27, 2024</a></blockquote>
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<p>The Society of Indian Automobile Manufacturers (SIAM) CEOs meeting took place at Bharat Mandapam in New Delhi where it was then confirmed that the proposal of the minister was accepted by the automobile manufacturers.&nbsp;</p>

<p><strong>Also Read:&nbsp;</strong><a href="https://www.wionews.com/india-news/this-indian-city-will-host-countrys-first-street-circuit-race-at-night-745365">This Indian city will host country's first street circuit race at night</a></p>

<p>Taking to his official social media account, the minister announced, “I am pleased to report that, in response to my recommendation, several commercial and passenger vehicle manufacturers have agreed to offer discounts for the purchase of new vehicles against the scrapping of older vehicles with a valid Certificate of Deposit.”&nbsp;</p>

<p>Explaining the importance of this development, he said, “This initiative will significantly advance our Circular&nbsp;Economy&nbsp;efforts, ensuring that cleaner, safer, and more efficient vehicles are on our roads."&nbsp;</p>

<h2><strong>How much discounts will be given to customers for passenger vehicles?</strong></h2>

<p>According to a report published in The Times Of India, auto majors are likely to give a 1.5-3.5 per cent discount to buyers who scrap their old vehicle when buying a new one.</p>

<p>As per the reports, passenger vehicle manufacturers like Maruti Suzuki, Hyundai, Tata Motors, Mahindra &amp; Mahindra, Kia,&nbsp;Honda, Toyota, JSW MG Motor, Renault India, Nissan India, Skoda and Volkswagen India have agreed to offer a 1.5 per cent discount on the ex-showroom price of the new&nbsp;car or Rs 20,000, whichever is less.&nbsp;</p>

<p><strong>Watch:&nbsp;Canada imposes 100% tariff on Chinese-made electric cars</strong></p>

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<p>Customers can get a discount if they have scraped a passenger vehicle in the last six months and the scrapped vehicle's details are linked to the Vahan system.&nbsp;</p>

<p>As per the official statement, passenger vehicle companies like Tata Motors, Volvo Eicher Commercial Vehicles,&nbsp;Ashok Leyland, Mahindra &amp; Mahindra,&nbsp;Force Motors, Isuzu Motors and SML Isuzu have agreed to give a 3 per cent discount on ex-showroom prices on commercial vehicles more than 3.5 tonnes and around 1.5 per cent discount on ex-showroom prices for CVs less than 3.5 tonnes.&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>


For those people who are planning to buy a new car or any other vehicle, scrapping the old vehicle can now prove beneficial as commercial and passenger vehicle manufacturers are willing to offer a discount if they have a valid Certificate of Deposit.

For those people who are planning to buy a new car or any other vehicle, scrapping the old vehicle can now prove beneficial as commercial and passenger vehicle manufacturers are willing to offer a discount if they have a valid Certificate of Deposit. Union Minister for Road Transport & Highways Nitin Gadkari announced the discounts in a meeting with the representatives of commercial and passenger vehicle manufacturers. He appealed to the industry to give discounts on purchasing new vehicles to the customers who scrap their old vehicles. 📍𝑩𝒉𝒂𝒓𝒂𝒕 𝑴𝒂𝒏𝒅𝒂𝒑𝒂𝒎, 𝑵𝒆𝒘 𝑫𝒆𝒍𝒉𝒊 Chaired a highly productive session of the SIAM CEO’s Delegation Meeting at Bharat Mandapam today, where we addressed various critical issues facing the automobile industry. I am pleased to report that, in response to my… pic.twitter.com/9n4aUdgoby — Nitin Gadkari (@nitin_gadkari) August 27, 2024 × The Society of Indian Automobile Manufacturers (SIAM) CEOs meeting took place at Bharat Mandapam in New Delhi where it was then confirmed that the proposal of the minister was accepted by the automobile manufacturers. Also Read: This Indian city will host country's first street circuit race at night Taking to his official social media account, the minister announced, “I am pleased to report that, in response to my recommendation, several commercial and passenger vehicle manufacturers have agreed to offer discounts for the purchase of new vehicles against the scrapping of older vehicles with a valid Certificate of Deposit.” Explaining the importance of this development, he said, “This initiative will significantly advance our Circular Economy efforts, ensuring that cleaner, safer, and more efficient vehicles are on our roads." How much discounts will be given to customers for passenger vehicles? According to a report published in The Times Of India, auto majors are likely to give a 1.5-3.5 per cent discount to buyers who scrap their old vehicle when buying a new one. As per the reports, passenger vehicle manufacturers like Maruti Suzuki, Hyundai, Tata Motors, Mahindra & Mahindra, Kia, Honda, Toyota, JSW MG Motor, Renault India, Nissan India, Skoda and Volkswagen India have agreed to offer a 1.5 per cent discount on the ex-showroom price of the new car or Rs 20,000, whichever is less. Watch: Canada imposes 100% tariff on Chinese-made electric cars Customers can get a discount if they have scraped a passenger vehicle in the last six months and the scrapped vehicle's details are linked to the Vahan system. As per the official statement, passenger vehicle companies like Tata Motors, Volvo Eicher Commercial Vehicles, Ashok Leyland, Mahindra & Mahindra, Force Motors, Isuzu Motors and SML Isuzu have agreed to give a 3 per cent discount on ex-showroom prices on commercial vehicles more than 3.5 tonnes and around 1.5 per cent discount on ex-showroom prices for CVs less than 3.5 tonnes. (With inputs from agencies)

Planning to buy a new car? Here's how scrapping your old vehicle can give you major discounts

<p>Russian companies have ceased offering fertiliser such as di-ammonium phosphate (DAP) to India at discounted prices due to tightening global supplies after becoming the biggest suppliers to the country last year, three industry sources told Reuters.</p>

<p>The move in August by Russian companies to instead offer fertilisers at market prices could increase India's import costs and subsidy burden amid a rally in global prices, as a top exporter, China, tries to curtail overseas sales.</p>

<p>"There are no discounts," said a New Delhi-based senior industry official involved in the negotiations with overseas suppliers.</p>

<p>Also Read | <a href="https://www.wionews.com/india-news/morocco-ambassador-maliki-welcomes-indias-offer-of-assistance-after-deadly-earthquake-635132">Morocco Ambassador Maliki welcomes India's offer of assistance after deadly earthquake</a></p>

<p>"Russian companies are offering fertilisers at the market prices," the official said, declining to be named due to the sensitivity of the matter.</p>

<p>India's fertiliser imports from Russia surged 246 percent&nbsp;to a record 4.35 million metric tons in the 2022/23 financial year ended on March 31 as suppliers gave discounts to the global market price for DAP, urea and NPK fertilisers.</p>

<p>Russia's aggressive selling last year eroded the Indian market share of other fertiliser exporters including China, Egypt, Jordan, and the United Arab Emirates.</p>

<p>Also Read | <a href="https://www.wionews.com/india-news/india-nipah-virus-alert-in-keralas-kozhikode-after-two-unnatural-deaths-reported-in-district-635097">India: Nipah virus alert in Kerala's Kozhikode after two 'unnatural deaths' reported in district</a></p>

<p>"Russian companies were offering DAP at discounts of as high as $80 (per ton). However, now they are not offering discounts of even $5," said another Indian company official.</p>

<p>The current price of Russian DAP is approximately $570 per ton on a cost and freight (CFR) basis for Indian buyers, which is the same price offered to other Asian buyers, said a Russian industry official.</p>

<p>Global fertiliser prices have been surging over the past two months, making it challenging for Indian companies to accumulate stocks for the upcoming winter season when demand for DAP rises for the wheat crop, said an official from a Mumbai-based fertiliser company.</p>

<p><strong>Watch | Can India amplify the voice of the global south?</strong></p>

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<p>In July, global suppliers were offering urea at approximately $300 per ton on a CFR basis, but are now quoting $400 per ton, he said. DAP prices were around $440 per ton in July, he added.</p>

<p>"The global fertiliser prices are rising just before crucial state elections in India. The government has no choice but to increase subsidies to protect farmers," added the official from the Mumbai-based company.</p>

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Russian companies have ceased offering fertiliser such as di-ammonium phosphate (DAP) to India at discounted prices due to tightening global supplies after becoming the biggest suppliers to the country last year, three industry sources told Reuters.

Russian companies have ceased offering fertiliser such as di-ammonium phosphate (DAP) to India at discounted prices due to tightening global supplies after becoming the biggest suppliers to the country last year, three industry sources told Reuters. The move in August by Russian companies to instead offer fertilisers at market prices could increase India's import costs and subsidy burden amid a rally in global prices, as a top exporter, China, tries to curtail overseas sales. "There are no discounts," said a New Delhi-based senior industry official involved in the negotiations with overseas suppliers. Also Read | Morocco Ambassador Maliki welcomes India's offer of assistance after deadly earthquake "Russian companies are offering fertilisers at the market prices," the official said, declining to be named due to the sensitivity of the matter. India's fertiliser imports from Russia surged 246 percent to a record 4.35 million metric tons in the 2022/23 financial year ended on March 31 as suppliers gave discounts to the global market price for DAP, urea and NPK fertilisers. Russia's aggressive selling last year eroded the Indian market share of other fertiliser exporters including China, Egypt, Jordan, and the United Arab Emirates. Also Read | India: Nipah virus alert in Kerala's Kozhikode after two 'unnatural deaths' reported in district "Russian companies were offering DAP at discounts of as high as $80 (per ton). However, now they are not offering discounts of even $5," said another Indian company official. The current price of Russian DAP is approximately $570 per ton on a cost and freight (CFR) basis for Indian buyers, which is the same price offered to other Asian buyers, said a Russian industry official. Global fertiliser prices have been surging over the past two months, making it challenging for Indian companies to accumulate stocks for the upcoming winter season when demand for DAP rises for the wheat crop, said an official from a Mumbai-based fertiliser company. Watch | Can India amplify the voice of the global south? × In July, global suppliers were offering urea at approximately $300 per ton on a CFR basis, but are now quoting $400 per ton, he said. DAP prices were around $440 per ton in July, he added. "The global fertiliser prices are rising just before crucial state elections in India. The government has no choice but to increase subsidies to protect farmers," added the official from the Mumbai-based company. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. ×

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