Maruti Suzuki's Record-Breaking Navratri Sales Kickstart Auto Sector Boom
Maruti Suzuki has kicked off the festive season with a bang, achieving its best performance in a decade. The company reported a whopping 3.5 lakh bookings and 1.65 lakh vehicle deliveries in the first eight days of Navratri. This surge in sales has led the auto sector's festive boom, with a 100% jump year-on-year.
Maruti Suzuki's success story doesn't end there. The company expects to touch 2 lakh vehicle deliveries by the end of Navratri, doubling last year's performance. This remarkable feat was kickstarted on Day 1 of Navratri, with Maruti Suzuki handing over 30,000 cars, the highest single-day delivery in its 35-year history.
Other auto manufacturers have also reported strong sales. Tata Motors, for instance, saw its compact SUV model Nexon achieve the highest monthly sales in the company's history, driven by growing demand for SUVs. This sales surge occurred around September 22, the first day of Navratri. Other brands like Mahindra & Mahindra, Hyundai, Hero MotoCorp, and Bajaj Auto also reported robust sales.
The government's rationalisation of GST slabs has created a climate of confident spending. Brands and retailers across sectors have reported sales gains ranging from 25% to 100%. Consumer electronics, too, have experienced an equally robust surge. Haier, for example, saw its Navratri sales climb by 85%. LG Electronics India, Godrej Appliances, Vijay Sales, and Reliance Retail also reported high sales growth during this period.
The festive season has indeed brought cheer to the automobile and electronics sectors. Maruti Suzuki's remarkable performance, coupled with the strong sales reported by other manufacturers and retailers, indicates a revival in consumer spending. This trend can be attributed to the government's GST reforms, which have instilled confidence in consumers, leading to increased spending.
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