Why it's a good time to buy a luxury car

The Indian car industry is officially going through its worst slump of the last decade.

Car sales declined 6.7 per cent last year and dealers are trying every trick in the book to sell their stocks - be it attractive finance schemes, discount prices, gold coins or freebies, including free insurance.

We take a look at some of the discounts and benefits car makers are offering in the above-Rs 20-lakh (Rs 2 million) segment.

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Audi

Audi is one of the few brands whose sales have actually grown in the last financial year. Yet, there are lucrative discounts on its model as well.

The A4, which starts at Rs 27.20 lakh (Rs 2.72 million), is being sold at dealerships at a discount of up to Rs 400,000.

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BMW

Depending on the availability and the variant, one can avail a discount of Rs 300,000 - 350,000 on the BMW 3 Series. The base model of a 3 Series starts at Rs 28.90 lakh or Rs 2.89 million (ex-showroom, Mumbai).

If you are looking to get a 5 Series BMW, then you can get a discount and benefits worth Rs 500,000. The starting price point of 5 Series is Rs 39.30 lakh (Rs 3.93 million).

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Porsche

Porsche's luxury cars are offering lucrative discounts as well. On the diesel variant of its SUV Cayenne, there's a discount of Rs 700,000 - 900,000 for the taking.

The Cayenne diesel costs around Rs 80 lakh or Rs 8 million (base model). Even its flagship model Porsche 911, a two-seater sports car, comes at a discount of Rs 20 lakh (Rs 2 million). The 911 top end model costs around Rs 1.6 crore (Rs 16 million).

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Volkswagen

On its smaller cars, the polo and Vento, Volkswagen isn't offering heavy discounts but on it s luxury saloon, the Passat, there are attractive discounts.

Cash benefits of up to Rs 200,000 can be availed on Passat at various dealerships. The starting price of the Passat is Rs 22.13 lakh (Rs 2.21 million).

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Mercedes Benz

The German giant has taken a beating from Audi and BMW. No wonder it's offering hefty discount of Rs 300,000 on the C Class saloon (starting price of Rs 28.5 lakh or Rs 2.85 million).

The E Class, which starts at Rs 39.40 lakh (Rs 3.94 million), has discounts of up to Rs 500,000 on different variants.