In an attempt to boost sales in a depressed market, Hyundai Motor India has slashed prices of its cars by up to Rs 33,000, besides offering benefits like free insurance and exchange bonus.

The company said in statement that its popular Santro model will now be cheaper by Rs 33,000 at Rs 299,000. The price of Accent will go down by Rs 7,200 to Rs 499,903, while Verna will be cheaper by Rs.24,000.

“The schemes announced should provide an impetus for our sales and offset part of the ownership cost, which has gone up considerably in the past few months,” Hyundai India senior vice-president (marketing and sales) Arvind Saxena said.

Hyundai is also offering free insurance, exchange bonuses and free car accessories worth as much as Rs.15,000 to attract reluctant customers.