Jain Community clinches Rs 21 Crore discount on bulk buying of 186 Luxury Cars
The Jain Community recently bought 186 high-end luxury cars like BMW, Audi, and Mercedes and received a discount of Rs 21 crore.
The Jain International Trade Organisation (JITO) Vice president Himanshu Shah has revealed that they clinched discounts worth a whopping Rs 21 crore on the purchase of 186 high-end luxury cars like BMW, Audi, and Mercedes. The JITO currently has 65,000 members from across India.
According to JITO vice president Himanshu Shah, the organisation made a deal with 15 dealers and bought luxury cars from top brands like BMW and Mercedes. They negotiated better prices for their members and accumulated the whopping 21 Crore discount. Shah described it as a “one-of-its-kind deal” with the luxury brands.
According to Shah, most of the luxury cars were bought by Gujarat-based Jains. These cars ranged between Rs 60 lakh and Rs 1.3 crore, he said, adding that the vehicles were handed over to their buyers between January and June. “It helped our members save Rs 21 crore in discounts,” said Shah.
The initiative was driven by Nitin Jain, a community member, after some JITO members came up with the idea that they could negotiate discounts from car dealers by leveraging their purchasing power. Since no marketing cost was involved, even carmakers saw this as a win-win situation, said Jain.
The initiative began with a few members of the community, and soon more people got interested after hearing about the hefty discounts.
“Soon, other JITO members also started buying cars. In all, 186 cars were bought and Rs 21 crore was saved. On average, each member saved between Rs 8 lakh and Rs 17 lakh, enough to buy another car for a family member,” said Jain.
Meanwhile, JITO is now expanding such deals to the jewellery and electronics sectors by launching a new initiative called ‘Utsav’.
