New Delhi, Oct 7
India's automobile industry recorded its highest-ever sales growth during the Navaratri period from September 22 to September 30 as it grew 34 per cent year-on-year (YoY), data from the Federation of Automobile Dealers Association revealed on Tuesday.
Passenger vehicle sales grew 34.8 per cent, while two-wheeler sales were up 36 per cent riding on GST reforms. The overall sales growth for the September was at 5.22 per cent at 18,27,337 units compared to 17,36,760 in September of the previous year, owing to slowdown in sales until September 21.
The report mentioned that the momentum built in the closing days of September will carry forward into Deepawali, marking a promising end to the 42-days festive period. The report mentioned the auto dealerships are witnessing surging enquiries and bookings across two-wheelers, passenger vehicles, and commercial fleets.
If the logistics and transportation ecosystems work seamlessly, this could be the best festive retail season India has ever seen, with supply chains matching the country's celebratory demand, according to the report.