Automotive manufacturers have implemented significant price reductions on electric vehicles in a strategic move to stimulate sluggish demand. This development follows a recent GST reduction on petrol and diesel vehicles which widened the price gap between conventional cars and EVs making electric options less affordable for consumers. Industry analysts suggest that these year-end discounts serve as a de-stocking strategy allowing manufacturers to clear unsold inventory before the new year. The automotive sector has been experiencing challenges in EV adoption due to various factors including price sensitivity and charging infrastructure limitations. These aggressive pricing strategies indicate manufacturers' commitment to boosting EV sales despite market headwinds.

Category: Auto, Automotive, Electric Vehicles, Entertainment, Stocks, trends