Vehicle Manufacturers Propel Circular Economy with Festive Discounts

Ahead of the festive season, leading vehicle manufacturers in India will offer discounts on new purchases in exchange for scrapped old vehicles. This initiative supports the circular economy by promoting safer, cleaner, and more efficient vehicles, as discussed in a meeting chaired by Minister Nitin Gadkari.

In a move to advance India's circular economy, several leading commercial and passenger vehicle manufacturers have announced discounts on new vehicle purchases against scrapped old vehicles ahead of the festive season, according to an official statement released on Tuesday.

This initiative, endorsed by Union Road Transport and Highways Minister Nitin Gadkari in a meeting with the Society of Indian Automobile Manufacturers (SIAM), aims to promote the use of cleaner, safer, and more efficient vehicles across the nation.

The discounts will be available for a limited period: two years for commercial vehicles and one year for passenger vehicles, incentivizing the scrapping of outdated vehicles for a more modern fleet on the roads.

(With inputs from agencies.)