Riding high on the October sales of cars and motorcycles, the market is upbeat for a blockbuster Friday on the occasion of Dhanteras, which is considered the most auspicious day in Hindu calendar for buying items ranging from precious metals and vehicles.
Dhanteras kick-started on a positive note with significant consumer demand for new vehicles.
Noida's Vipul Motors, a Maruti Suzuki ARENA showroom, saw a delivery of over 200 vehicles on the eve of Dhanteras. Similarly, the Maruti Suzuki Nexa showroom at Sector 63 also delivered more than 100 vehicles on the day.
The ARENA showroom staff say that the similar demand will continue till Diwali as people will be taking delivery of their cars.
Similar was the scene at the Tata Motors showrooms across the national capital, where significant number of people took the delivery of their cars.
Rajeev Sharma, who took the delivery of his Blue colour Maruti Fronx said that he had booked his car a month ago for delivery on the occasion of Dhanteras. “Today, I got the delivery of my car.”
Tata Motors spokesperson said: “We expect the industry growth to remain strong in the festive season and for the financial year, the industry is likely to touch a sales figure of 4 million units.”
The Tata Motors official said that the trend is set to strengthen further, with multiple offerings in the market, ranging from affordable to highly aspirational cars and on the back of policy support.
“We will continue to stay agile and strengthen our portfolio in ICE and in EVs. In FY24, we aim to continue to post growth on the back of new launches and strong demand for all our products,” the spokesperson added.
Maruti Suzuki India (MSI) achieved its highest-ever monthly sales in October, reaching 1,99,217 units, marking a substantial 19% year-on-year growth. Similarly, Hyundai Motor India Ltd (HMIL) reported domestic sales of 55,128 units in October 2023, reflecting a 15% increase compared to 48,001 units in the same month last year.
Tata Motors recorded sales of 48,343 vehicles in October 2023, reflecting a 7% year-on-year growth and an 8% month-on-month increase.
In the two-wheeler segment, the six leading manufacturers reported total domestic sales of 18,11,216 units in October, representing a significant 20.99% year-on-year growth compared to 14,97,021 units in October 2022.
The positive sales trend was not limited to four-wheelers, as two-wheeler showrooms across the national capital also experienced significant sales on Dhanteras, reflecting a buoyant market during the festive season.
(With Agency Inputs)
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