Maruti Suzuki India has received around 4,50,000 vehicle bookings since the day it announced reduced prices thanks to GST reforms.
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Maruti Suzuki India has received around 4,50,000 vehicle bookings since the day it announced reduced prices thanks to GST reforms.
In India’s annual major festive season which stretches from Navratri to Diwali, Dhanteras day holds a special place as it is considered an auspicious day to acquire new assets. Automobiles feature among the top assets to be acquired on this day, which is why it’s also a red letter day for vehicle OEMs and dealerships.
Automobile makers are expected to report strong Dhanteras delivery performance this year too. Passenger vehicle market leader Maruti Suzuki India is bullish about a record figure for car deliveries this Dhanteras. Speaking to journalists, Partho Banerjee, Senior Executive Officer – Marketing and Sales, Maruti Suzuki India said that around 41,000 Maruti Suzuki vehicles were delivered today, and around 10,000 more will be delivered tomorrow. This will result in a record Dhanteras for Maruti Suzuki India. Last year’s Dhanteras, with around 41,500 vehicle deliveries, was its previous best.
The auspicious period this year spreads from 12:18 p.m on October 18 to 1:51 p.m on October 19. Banerjee added that entry-level cars are also witnessing a demand revival, thanks to GST2.0 enhancing affordability. Being a Saturday today, which many consider an inauspicious day to acquire a new asset, some customers prefer to collect their cars tomorrow.
Maruti Suzuki India has received around 4,50,000 vehicle bookings since the day it announced reduced prices, and around one lakh of them are for entry-level models such as the Alto K10, Celerio, and S-Presso. Maruti Suzuki India claims a record, retailing 3.5 lakh vehicles over the past month or so, which translates to a growth of over 50 percent over the same period last year.
Another passenger vehicle major, Hyundai Motor India, is also betting on robust retail performance this Dhanteras. According to Tarun Garg, Whole-Time Director and COO, Hyundai Motor India, the OEM is witnessing strong customer demand, with deliveries expected to be around 14,000 units, which will be sound 20 percent higher than last year. He also added that along with the festive spirit, a buoyant market environment and GST reforms are also fuelling growth.
The story may not be too different for most, if not all other OEMs. According to Saharsh Damani, CEO, Federation of Automobile Dealers Associations (FADA), this Dhanteras is the best-ever for the auto retail industry. Depending on the vehicle category, retail sales are witnessing a 20-25 percent YoY growth this Dhanteras.
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