The Diwali festive season has always been considered the biggest shopping season for the auto industry of the year with a large number of middle class buyers looking forward to bring home their dream car. But this time, the festive season has brought no cheers for the car makers who were expecting a significant surge in sales during this month. Fortunately, two-wheeler makers did rejoice with a considerable increase in sales.
Generally, the Diwali festive season comes as a heavy sales period for the car makers in India with on an average 15 to 20 percent hike on average monthly sales. However, this time around, the sales for most of the car makers remained flat, and a few of them managed to get a rise of mere 5 to 10 percent. The small hike in sales was registered due to heavy discounts and schemes offered during this season.
In a recent statement, Jnaneswar Sen, Sr VP, marketing and sales, Honda Siel, said, "Our expectation was of a good growth, but this year, the growth will be very nominal. The reasons are very simple, interest rates are far higher, petrol prices are very high, which has dampened the sentiment."
In a statement given to ET, Sandeep Singh, deputy MD marketing at Toyota Kirlosker Motors Limited, said, "Overall the festive season was average. While there was increasing footfalls on the day of Diwali and Dhanteras yet it was not as exciting as the past. Last season, on the eve of Diwali and Dhanteras, the sales were 3-4 times our normal day average, however this year it was two to two-and-a-half times."
