Tata Motors offers car buyback to pump up sales

Tata Motors one of India’s own automotive giants has come up with a unique strategy to pump up its car sales in the highly slumped market conditions. Tata Motors promises to buy back the customers’ Manza sedan.

Tata Motors announced that it will guarantee its valued customers 60 percent of the Manza Sedan’s purchase price after 3 years on the cars that the consumers buy in the next two months’ time. The Indian car giant that is led by the Chairman, Cyrus Mistry, has also decided to slash down the prices for some of its vehicles this week by a big amount of up to 50,000 rupees. Tata’s Manza model, which comes with this unique buy back guarantee, will also be about 8 percent more affordable.

Tata Motors, which used to be India’s 3^rd biggest car produces even in the recent past has been having a lot of trouble in the last few quarters of the fiscal, and its present offer to repurchase its own used cars clearly points to the desperate situation condition of the car maker. Tata Motors lost its 3^rd position to its Indian rival Mahindra & Mahindra and now recently Toyota has also surpassed it. Tata Motor’s passenger car sales figures have reportedly seen a plunging depth of 70 percent in the month of February that happens to be the lowest in 10 years time.

In the month of February 2013, Tata Motors passenger car sales declined to 10,613 from the sales figures of 34,832 in the same time in 2012. While other car makers are also facing with sales difficulties, Tata happens to be the worst affected. This Indian auto producer needs a lot of new releases that come braced with solid design as well as performance capabilities, in order to make it shine in the domestic car market and get back its lost glory.