Cars sales gain traction on Akshaya Tritiya

Thursday 26 April 2012, 11:23 AM by

On April 24, 2012, the day of the auspicious festival of Akshaya Tritiya, traders waited with bated breath for a swarm of customers to help improve sales. Car and bike retailers, realtors and jewellers were among those who were anxiously awaiting the arrival of this day, since many Hindus chose to buy new property, automobiles and gold items on this day. Automotive sales are expected to be even better since some banks have recently reduced lending rates on auto loans. This has led to high hopes on the part of dealerships, which are expecting a huge number of buyers to come to showrooms to register for cars.

According to a car dealer based in Bhubaneswar, “People believe it is auspicious to invest in some kind of asset on this special day. Those who were supposed to buy a car in the near future or past prefer to do it on this day. We made bookings of around 50 vehicles this day”

Planet Group, which sells models of two different four wheeler brands is ready to deliver approximately 150 vehicles, apart from 300 two wheelers belonging to two brands. As per Sukhbir Bagga, Chief Executive Officer (CEO), Planet Group, “Compared to last year, demand hasn’t seen much rise for Akha Trij. However, this is the first day in this year in which we are getting better demand,” said Bagga.

He also added that the demand for automobiles has gained pace over the past two days. According to him, "Post budget, the period of one and half month was dull. But suddenly we have seen huge enquiries and people have already booked two-wheelers and four-wheelers to get delivery on Tuesday."

Two of the biggest automotive companies of India, namely Maruti Suzuki and Hyundai, had already announced free gifts for booking models on this auspicious day. They offered discounts and free gold coins, corporate discounts and savings up to Rs. 52,000 in order to draw consumers to their showrooms on Akshaya Tritiya.