Nissan India rolls out low-cost EMI scheme to drive Sunny, Micra sales

Mumbai, April 16, 2013: Nissan Motor India has announced a ’lower than the lowest’ Equal Monthly Installment (EMI) scheme for potential customers in India. The company says the scheme, valid till April 30, is designed to reduce a car buyer’s monthly EMI outflow by up to 40 percent.¬

The EMI on a petrol- or diesel-engined Micra hatchback and the Sunny diesel saloon is Rs 8,999 on a three-year loan. As per the scheme, a customer can choose a down payment of 34 percent on the on-road price or exchange his/her old car and get an additional exchange bonus of up to Rs 50,000. The buyer can also extend the scheme to include the customised EMI plan for the 36th month. Nissan has tied up with auto financiers such as HDFC Bank, Tata Capital, ICICI Bank and Kotak Mahindra Bank for the offer.

Speaking on the new offer, Nitish Tipnis, director (Sales & Marketing), Hover Automotive India, which is the national sales company for Nissan India, said: “Our lowest EMI Scheme offered last month was a huge success. So we further enhanced the value proposition to make it more exciting and affordable.”

Nissan Motor India’s aggressive sales drive is not without reason. As per SIAM’s industry sales statistics (see table below), the company posted cumulative sales of 36,955 units in 2012-13, recording a year-on-year growth of 11.11 percent. While the Micra is facing sales pressure with overall sales of 11,449 units in 2012-13, down 38 percent (2011-12: 18,633), the popular Sunny has sold 23,998 units in 2012-13, a near-70 percent growth over the previous year (2011-12: 14,161). The bulk (over 19,000 units) of the Sunny’s sales have come from the diesel model.