Moneycontrol News
The festive season in India is in full swing and it is a win-win situation for both customers as well as automotive companies. Let’s do a three point analysis to figure out why.
Why is this time of the year important for automotive companies? Because these few weeks constitute a minimum of 30 percent sales for the entire year. It is that time of the year when companies and their dealers are desperately trying to make up for the deficit in sales during the earlier months. The first half of this year has been disappointing so far with the automobile industry recording an increase of just 6.88 percent.
What can the buyer expect? New launches and model refreshes as well mouth-watering discounts on the existing models are greeting buyers at showrooms. Hyundai is all set to launch the new Santro, Nissan will launch the Kicks SUV. Honda has launched the new CRV and Tata Motors has rolled out the updated Tigor. Datsun has launched upgraded Go and Go+ while Ford has rolled out the updated Aspire.
So what is the scenario going forward? Sales of passenger cars were down 5.6 in September to 2.92lakh. Now, this is not a good sign for the industry as the festive period seems to have started off on a sombre note. High lending costs, high fuel prices, high insurance costs and an overall negative sentiment in the retail market will continue to have a bearing on volumes in the next few weeks.
But if you are still in the mood to buy a new car for yourself, you can still get a great deal as discounts are at an all-time high now and prices are expected to ramp up near Diwali.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
