Including Maruti, Hyundai, Tata Motors and other car makers reported, nearly every car maker has reported high sales growth in September 2009. This brings cheers to everyone as auto makers look forward to a shopping-filled festive season in India. Honda, General Motors and Ford are hopeful for even better sales growth as people expect good bonuses and are more confident of their jobs now. Moreover, cheap financing schemes have also flooded the market.
“Money is coming into the system and the higher liquidity could result in even better volumes in October and set a bigger sales record in the domestic auto market,” said Ramnath Subramaniam, director (research) at capital market firm IDFC-SSKI Securities.
"The car market behaved differently this year with consumers purchasing even during shradh period (considered inauspicious for purchases according to Hindu religion)," said Arvind Saxena, senior VP (marketing & sales) at Hyundai Motor India. “But sales actually spiraled up in the last ten days, with many of our models going off the shelf,” he says.
The improved market sentiments have added to the festive furore and new maketing schemes like Mahindra 4 Sure and Mahindra Scorpio automatic transmission model test drives are luring customers before making a sound purchase. Honda is also promoting its product range via its website and various online promotions. The car companies have also activated social networking websites like Facebook to promote their latest car models in India.
