Automakers have lined up new launches and attractive discounts in anticipation of a sales bonanza during the three-month festive season, the numerous headwinds notwithstanding.
SHANKAR SINHA, A DELHI-BASED software professional has been eagerly awaiting this year’s festive season. Ever since a jump in his designation and salary following a promotion in April, he has planned a number of important purchases for his household including a car for himself. And what better time to do this than the festive season, considered auspicious in most parts of the country, when consumer goods companies are falling head over heels to woo people with new launches and attractive bargains.
Like Sinha, Indians in large parts of the country tend to schedule their big-ticket purchases ranging from household goods and appliances to vehicles and even homes during the festive season. And while bad economic conditions, as at present, may dampen consumer exuberance and thwart impulsive purchases, they seldom seem to impact sales of cars and two-wheelers as much. Be it Ganesh Chaturthi in Maharashtra, Onam in Kochi, Navaratri and Diwali in north India or Durga Puja in West Bengal, OEMs see a big jump in sales during these festivals as people prefer to take delivery of cars and bikes on auspicious dates.
But the months preceding this year’s festival season has not been good for OEMs. In fact, car sales were negative for the six months ended September. August and September were particularly bad for car sales compared to last year. According to Rajan Wadhera, President, SIAM, this is because the festive season began in September last year.
“We are very hopeful that sales will be robust in the next few months. The industry looks forward to it as the bulk of the sales do happen during this time. Besides, we are expecting additional growth coming from rural areas. And, if the crude prices start moving down, that would be another good driver of growth. For this fiscal year, we do see positive growth for both bikes and cars,” he says.
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Denne historien er fra October 13, 2018-utgaven av Businessworld.
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