Jain Community Leverages Collective Buying Power to Secure Rs 21 Crore Discount on 186 Luxury Cars

JITO collaborated with 15 dealers and negotiated better prices. (Photo credit: AI)

The Jain community, renowned for its entrepreneurial prowess, has secured an impressive Rs 21 crore in discounts while purchasing 186 luxury vehicles from prestigious brands like BMW, Audi, and Mercedes, demonstrating their significant collective buying power. This remarkable achievement was orchestrated through the Jain International Trade Organisation (JITO), which boasts a membership of 65,000 individuals across India.

Himanshu Shah, JITO's vice president, characterized the arrangement as an "unprecedented deal" with these luxury automotive manufacturers. The organization established partnerships with 15 dealerships representing premium brands such as BMW and Mercedes to secure advantageous pricing for their members.

Shah clarified to PTI news agency that JITO functioned solely as an intermediary and did not receive any financial benefits from the transactions.

According to Shah, Gujarat-based Jains constituted the majority of luxury car purchasers. These vehicles were priced between Rs 60 lakh and Rs 1.3 crore, with deliveries occurring from January through June. "Our members collectively saved Rs 21 crore through these negotiated discounts," Shah explained.

The concept was spearheaded by community member Nitin Jain after several JITO members recognized the potential to leverage their collective purchasing power to negotiate substantial discounts from automobile dealers. Jain noted that automotive manufacturers viewed this arrangement favorably as it eliminated marketing expenses, creating a mutually beneficial situation.

What began with a small group of community members quickly gained momentum as word spread about the significant savings available.

"The initiative rapidly expanded as more JITO members participated. Ultimately, 186 vehicles were acquired with total savings of Rs 21 crore. Individual members saved between Rs 8 lakh and Rs 17 lakh on average—sufficient to purchase an additional vehicle for another family member," Jain stated.

Building on this success, JITO is now extending similar collective purchasing initiatives to jewelry and electronics sectors through a new program called 'Utsav'.