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.
Bu hikaye Businessworld dergisinin October 13, 2018 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Businessworld dergisinin October 13, 2018 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
MEMORIES & IMPRESSIONS
Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.
The Robotaxi Market
The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.
And the Nobel Prize Goes to AI
The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.
Ola Electrified
Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.
Sharp Slide in Industrial Output on Eve of Deepavali
India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.
Heralding the Solar Era with Sustainable Electrification
RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more
A WELL-GREASED MACHINE
The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh
Disruption Ahead: Beyond Organisation Charts and Structures
ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.
