Positive Diwali Sales Growth Infuse Optimism Into Automakers

hyundai creta vs kia seltos-1-6

The auto sector has seen increased sales growth during the Diwali period and more new launches are lined up in the coming months

The Indian automotive industry has been enduring good sales fortunes over the last three months as the festive season could not have come at a better time. With the volume prospects getting better, the manufacturers have banked on new products or variants, attractive financial schemes and easy buying options to lure in new customers, and the tricks have worked wonders.

The individual mobility solutions are getting plenty of attention and companies are offering door-to-door services for every possible needs to keep them at comfort, as the auto sector is certainly adapting to the ‘new normal’. According to reports, the sales during the Diwali period have increased to two digit YoY growths and some cars are out of stock due to the demand.

Maruti Suzuki India Limited (MSIL), the largest carmaker in the country, delivered around 37,000 units in the period of November 12-14. The volume growth has been higher compared to last year and the three days have also seen the most units sold when the similar period over the last three years are taken into account.

2020 hyundai i20 hd new pics-7

Tata Motors’ car reservations have increased by 95 per cent and the retail sales by up to 90 per cent compared to last financial year’s festive season. In recent weeks, Mahindra introduced the second generation Thar while Hyundai debuted the third generation i20. Honda’s motorcycle division brought in the H’ness CB350 and Royal Enfield’s long sought after Meteor 350 also entered the fray.

With new launches, the brands are looking to take a big advantage over each other and some have been definitely paying off. The Thar’s sales and bookings have exceeded Mahindra’s expectations and thus the production is getting ramped up from January to reduce the waiting period. Honda sold 1,000 units of its RE rival within three weeks of its market debut.

kia sonet side blue-1-16

The Meteor 350, on the other hand, has had more than 8,000 reservations in a short span of time. Nissan will launch the Magnite compact SUV on November 26 and it will more likely be aggressively priced between Rs. 5.5 lakh and Rs. 9.5 lakh (ex-showroom) to lure in new customers.