Automakers are expecting to close this year with strong sales this festive season. The dealers are aiming at record retail sales this year.
With good monsoon season and softening of interest rates, it has resulted in the boost in demand across the urban and rural market.
Car manufacturers such as Maruti Suzuki India (HMIL), Hyundai Motor India (HMIL), and Honda Cars India (HCIL) have all registered a growth of 25 percent increase in retail sales this festive season after many forgettable years.
Senior Vice-President (Sales & Marketing) at Hyundai Motor India, Rakesh Srivastava said, "On-ground customer interest has heightened this festive season and this is being seen across segments. Such demand has come after many years."
Honda Cars India which has struggled in the Indian market for a past few years due to a shift in trend towards petrol vehicles is also expecting a strong sales this festive season.
Senior Vice-President (Marketing & Sales), Honda Cars India, Jnaneswar Sen said, "Our wholesale numbers have been declining because we have been correcting inventory at dealerships. At the retail level, however, we have seen 25% increase in sales."
Maruti Suzuki is working on increasing the production of its best-selling Baleno and Vitara Brezza to reduce waiting periods. With Diwali around the corner, the sales should further improve.
Executive Director (Sales and Marketing) at Maruti Suzuki, RS Kalsi said, "We have registered a growth of 15-18% in sales during the festive period. With Diwali still a couple of days away, the numbers should go up further. Rural markets are positive... We have increased production of the Baleno and the Brezza by 25% each to meet the demand."
Two wheeler manufacturers are also expecting a good sales figures during the festive season. A spokesperson at Hero MotoCorp said, "We have already crossed one million units in sales this festive period even before Dhanteras. With almost a week remaining, including Dhanteras and Diwali, we are confident of adding to this tally."