Car and SUV sales soared to unprecedented heights in September, riding the wave of Diwali cheer and festive spirit. Over four lakh buyers celebrated as they drove home their dream cars. The industry notched an outstanding growth of over 18 percent, crossing the 7 lakh unit mark by the end of Navratri. Between Dussehra and the end of the season, an additional 3.25 lakh to 3.3 lakh units were swiftly being sold. This remarkable surge, boasting a magnificent 20-25 percent increase compared to last year's festive season sales of 8.1 to 8.5 lakh units, showcases a truly stellar performance. An impressive statistic: around 8 cars were being sold every single minute, signalling an exceptionally positive trajectory for the industry.
During the festive season, there was a significant surge in the demand for automobiles, prompting companies like Maruti Suzuki, Hyundai, Mahindra & Mahindra, and Toyota to build up substantial inventories at their dealerships in anticipation of Navratra and Diwali. It is estimated that a record-breaking number of over 1.03 million cars and SUVs were sold in India over the 90-day festival period. Traditionally, the festive season constitutes a quarter of the total industry sales. The vehicle manufacturers generated a turnover exceeding 1.1 lakh crore, becoming a key contributor to the increased GST collection for the Indian government.
It's not just the spike in sales that stands out; there's also a significant emphasis on enhancing safety features and incorporating advanced technology in automobiles.
Companies have nothing but positive figures to report, with Maruti Suzuki experiencing a remarkable 40 percent increase compared to last year's numbers, according to Shashank Srivastava, Senior Executive Director of Sales and Marketing at Maruti Suzuki. Mahindra & Mahindra also reported robust transactions, particularly for new models such as the XUV 700, Scorpio N, Scorpio Classic, and the Thar.
Mercedes-Benz had to implement a second manufacturing shift in October, delivering around 600 cars on the day of Dussehra and another 800 cars on Diwali. The demand exceeded expectations by 20 percent, as Santosh Iyer, VP of Sales and Marketing at Mercedes-Benz, revealed. Audi, a rival to Mercedes-Benz, also experienced tremendous growth during the festive season.
According to Manish Raj Singhania, the President of the Federation of Automobile Dealers Associations (FADA), the stretch from Navratri to Diwali has proven to be a record-breaking season for auto dealerships. Specifically, the nine days of Navratri saw a substantial 57 percent surge in sales for these dealerships.
