After two years battered by the pandemic, car dealers are rebounding and expect record two- and four-wheeler sales this year during the promising Dhanteras.
Dealers expect a rush for cars in all 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 to Dhanteras.
Dhanteras, also known as Dhanatrayodashi, is celebrated as the first day each year to mark the start of Diwali. On this day, Hindus, Jains and Sikhs buy items made of brass, silver and gold as it is considered one of the most auspicious and ideal days to buy expensive items. This year Dhanteras is celebrated on October 22nd and 23rd.
Car dealers expect record sales in all segments, including cars, trucks and two-wheelers.
“We expect record retail sales of passenger cars on Dhanteras. Even two-wheeler sales are expected to reach pre-COVID levels,” Mr. Singhania told PTI.
Also, sales of commercial vehicles as well as tractors and tricycles are expected to be much better than last year, which was hit by the pandemic, he added.
FADA is an independent association of automobile dealers. It represents over 15,000 car dealers and 26,500 car dealerships across India.
Mr Singhania said traders are expecting retail sales to grow at least 40% year-on-year during this festive season (Navratra to Diwali period).
He noted that even the two-wheeler segment, which has lagged behind, is seeing improvement as robust demand from urban, semi-urban and rural areas is arriving.
Mr Singhania said FADA expects around 2,000 passenger car units to be sold during the festive period this year from total bookings of 7,000 to 8,000 units so far.
“The remainder of the units will be sold at retail over the coming months. Now it’s all about supply as booking numbers remain at very high levels,” he added.
Auto retail sales in India rose 11% in September as better supplies from manufacturers allowed dealers to boost customer shipments amid the ongoing holiday season.
Similarly, domestic car wholesale sales rose 92% year-on-year to 3,07,389 units last month.
Car wholesalers in India topped the quarterly mark of 10 lakh for the first time in the July-September period as automakers pushed units to dealers to meet festive demand.