The festive boom started off with Navratra earlier this month. With Diwali a few days away, automakers in India have noted increased domestic sales. This has resulted in car sales in India reaching a new 54 month high for September 2016.
The auspicious season for purchase of new cars has hit the auto industry and auto makers such as Toyota Kirloskar Motors, Maruti Suzuki and Hyundai Motors have reported outstanding sales.
Models such as Toyota Innova Crysta, Maruti Brezza and Hyundai Creta along with small cars like Renault Kwid are in much higher demand. Sales have reached a 54 month high to the extent that production plants are working round the clock to increase output so as to ensure timely deliveries.
The festive season is coupled with a healthy monsoon while 7th Pay Commission announcement has also added to increased footfalls in company showrooms. The introduction of new models has caused much excitement among new buyers adding to the further momentum of car sales.
As per Society of Indian Automobile Manufacturers, passenger vehicle sales in September 2016 stood at 2,78,428 units as compared to sales of 2,32,170 units in the same month of the previous year resulting in growth of 22%.
UV sales increased 37.93% from 48,367 units sold in September 2015 to 66,851 units sold in the past month. Car sales increased 15.14% from 1,69,590 units sold in September 2015 to 1,95,259 units sold in September 2016.
A total of 66,851 units of SUVs were sold in September 2016, which has never been seen before. Estimates reveal that this frenzy among car buyers is set to last till the end of the year with stronger urban and rural sales causing automakers to boost supplies and enhance inventories so as to keep waiting periods to the minimum.