The automotive manufacturers across the globe are hit hard by the economic downturn caused by COVID-19 outbreak. To arrest the slide in car sales, Indian automobile brands are offering discounts and several attractive financial incentives. Tata Motors on Wednesday introduced new financing schemes for Tiago, Nexon and Altroz. Under the new EMI scheme, consumers are offered a 6-month EMI holiday. Tata car buyers can make zero down payment, 6-month EMI holiday and option of a 100 per cent on-road funding. The buyers just need to pay monthly interest according to the statement released by Tata.
"This offer is being made available through a partnership with Karur Vysya Bank (KVB) to eligible salaried and self-employed persons," Tata Motors further added. Indian automaker is offering affordable, step-up EMI on a long tenure period of eight years in a partnership with different financial institutions. The step comes amidst the slump in Tata Motors sales from 36, 945 units in the last year to 14,571 units in the current April-June quarter.
The highest 5-star Global NCAP safety rated Tata Altroz is available with EMIs starting at just Rs 5,555. It comes with both the petrol and diesel engines. Tata Altroz petrol variants are powered by a naturally-aspirated 1.2L 3-cylinder Revotron engine which churns out 85 bhp of power and 113 Nm of peak torque. Tata Altroz diesel comes with a 1.5L 4-cylinder Revotorq engine, delivering 89bhp of maximum power and 200 Nm of peak torque. As of now, both the engines are mated to a 5-speed manual transmission.
Tata Nexon is available with EMIs starting from Rs 7,499 and comes with two powertrains - Petrol and Diesel. The 1.2L turbocharged petrol Revotron engine churns out 118 bhp of power and 170 Nm of peak torque. The 1.5L turbocharged Revotorq diesel engine delivers 108 bhp of power and 260 Nm of peak torque. Manual and automatic transmissions are available with both the petrol and diesel engines.
Tata Tiago EMI starts as low as Rs 4,999. The entry-level hatchback has only a petrol engine. Tata Tiago is powered by the Revetron 1.2L 3-cylinder engine, which develops 85 bhp of power and 113 Nm of peak torque. Transmission systems are a manual 5-Speed and automatic 5-speed unit.
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