Rebounding after two pandemic-hit years, automobile dealers expect a bumper sale of two- and four-wheelers during the auspicious Dhanteras this year.
Dealers expect a rush for automobiles across categories. Federation of Automobile Dealers Association (FADA) President Manish Raj Singhania said dealers are sitting on a record number of bookings this festive season and most customers are insisting on deliveries on Dhanteras.
Dhanteras, also known as Dhanatrayodashi, is celebrated each year as the first day to mark the beginning of Diwali. On this day, Hindus, Jains and Sikhs buy brass, silver and gold objects as it is regarded as one of the most auspicious and ideal days to purchase expensive items. This year, Dhanteras is being celebrated on October 22 and 23.
Auto dealers are expecting bumper sales in all segments, including passenger and commercial vehicles and two-wheelers.
“We expect record retail sales of passenger vehicles on Dhanteras. Even two-wheeler sales are expected to reach the pre-COVID levels,” Mr. Singhania told PTI.
Besides, commercial vehicles as well as tractor and three-wheeler sales are expected to be much better than the pandemic-affected last year, he added.
FADA is an independent collective of automobile dealers. It represents over 15,000 automobile dealers and 26,500 dealerships pan-India.
Mr. Singhania said the dealers were expecting a minimum of 40% growth in retail sales this festive season (Navratra to Diwali period) as compared to last year.
He noted that even the two-wheeler segment, which has lagged behind, is witnessing improvement with robust demand coming in from urban, semi-urban and rural areas.
Mr. Singhania said the FADA expects that around 2 lakh passenger vehicle units would be retailed during the festive period this year from the total bookings of 7-8 lakh units so far.
“The rest of the units would be retailed in the coming months..it is all about supply now as the booking numbers remain at a very high level,” he added.
Automobile retail sales in India rose 11% in September as better supplies from manufacturers enabled dealers to ramp up customer deliveries amid the ongoing festive period.
Similarly, domestic passenger vehicle wholesales increased 92% to 3,07,389 units last month as against a year earlier.
The passenger vehicle wholesales in India crossed the 10 lakh quarterly mark for the first time in the July-September period as automakers pushed units to dealers to cater to the festive demand.