The car sellers managed a total of Rs. 32,000 crore in business as the sales numbers rose by a whopping 30 per cent
In just over a month-long period between Navratri and Diwali this festive season, passenger car sales skyrocketed to over four lakh units. Considering the volume performance, the car retailers managed a total of Rs. 32,000 crore in business and compared to the same period last CY, the sales grew by a whopping 30 per cent (three lakh units sold last time out).
The tumultuous period endured by the economy is no more this time around as the impact of the health crisis has been negligible compared to the previous two seasons. The logistics and production issues have also been dealt with and the automotive industry pushed its boundaries to meet the targets set for this festive season with improved sales activities.
The increased number of car deliveries to the customers is ensured by the high level of dealer stocks across the country. It is worth noting that the industry sat on over eight lakh pending orders by the end of last month. The Navratri festive period comprising nine days saw the sales of passenger cars increase by 57 per cent.
The vehicle sales stood at over 8.2 lakh units between Onam and Bhai Dooj – all in all the festive season lasting nearly two and a half months account for one-fourth of the total volumes endured in a calendar year. Maruti Suzuki India Limited (MSIL), the largest car producer in the country, posted 1.94 lakh unit sales this Diwali season – 40 per cent higher compared to last year.
Hyundai and Mahindra recorded sold more cars than in the previous quarters and saw a two-fold increase this festive season. An estimated total of 65,000 Hyundai cars were delivered from 1st Navratri till yesterday leading to a positive YoY growth of 20 per cent over the same period in 2021. As for Mahindra, its recent launches such as the Scorpio N, Scorpio Classic, XUV700 and Thar have been well-received amongst buyers.
In the luxury car space, Mercedes-Benz delivered 600 new cars on Dussehra and 800 more cars on Diwali’s day. The period between Dhanteras and Diwali saw the German brand register more than 1,000 new bookings.