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Carmakers Look to Diwali to Boost Sales
Sentiment: NeutralHigh Priority
What Happened?
India's car manufacturers are relying on Dhanteras and Diwali to maintain festive sales momentum, despite a reported 22% decline in passenger vehicle registrations during Navratri.
Key points
- FADA reported a 22% year-on-year decline in passenger vehicle retail sales during Navratri.
- Maruti Suzuki, Hyundai, and Tata Motors account for two-thirds of passenger vehicle sales in India.
- Maruti Suzuki's retail sales during Navratri were nearly on par with last year, with a 35% increase between Ganesh Chaturthi and Dussehra.
- Hyundai's registrations rose about 30% year-on-year to nearly 41,000 units up to Navratri.
- Dealers expect demand to remain strong through Dhanteras and Diwali.
Key insights
- Strong bookings during the festive season may lead to increased production and inventory adjustments.
- The decline in sales during Navratri could indicate a challenging market environment compared to last year.
- Healthy demand across urban and rural markets may support sustained growth in the automotive sector.
Why it matters
The sales trends during the festive season could significantly impact the automotive market in India.
Entities
FADA· OrganizationMaruti Suzuki· CompanyHyundai Motor India· CompanyTata Motors· CompanyIndia· Country
Source
Times of India
