 "Car Loan, Family, Loan")
Everybody is looking forward to the festive seasons, especially from the auto industry
Auto industry players are eyeing robust performance in the ongoing festive period to lift overall consumer sentiment and set the tone for the rest of the year amid slowing demand.
The festive season usually commences with Onam and ends with Diwali every year.
Click here to connect with us on WhatsApp
Kia India National Head of Sales and Marketing Hardeep Singh Brar told PTI that the last 3-4 months were not good for the industry as sales declined compared to the same period last year.
“With pent-up demand of the last few months there and government investment starting to flow in, we feel things should start improving from here onwards,” he noted.
Brar said the booking momentum in September was good, which is a strong indication for October.
“And this time, all festivals are in October..we expect about 5-10 per cent sales growth during the period as compared to last year,” he added.
Brar said that in the January-April period, the passenger vehicle industry witnessed a growth of 7 per cent, but in May-September, there was a dip of about 2-3 per cent, leading to the buildup of inventory.
Nissan Motor India Managing Director Saurabh Vatsa said the entire industry is looking at the festive season to bring some cheer after witnessing tough three months.
“I think it has been a challenging period. The festive period will define the quarter, and the third quarter will define what happens in the remaining part of the year,” he said.
Everybody is looking forward to the festive seasons, especially from the industry, he added.
Toyota Kirloskar Motor Vice President, Sales-Service-Used Car Business, Sabari Manohar said the company is witnessing enhanced footfalls and enquiries.
“Key to meeting this rising demand has been our strategic operational improvements, such as the introduction of a third shift. This has significantly optimised our supply chain, particularly for high-demand models like the Urban Cruiser HyRyder, where waiting periods have been reduced,” he said.
Additionally, there is a clear shift in sentiment, with an increasing embrace of eco-friendly technologies, not only in urban areas but also in Tier II and Tier III markets, Manohar said.
Maruti Suzuki India Senior Executive Officer (Marketing and Sales) Partho Banerjee said the company is trying to increase its sales by bringing in some limited edition models.
He noted that during Ganesh Chaturthi and Janmashtami, the company witnessed good traction in sales and has been able to generate volumes as per the business requirements.
Tata Motors Passenger Vehicles MD Shailesh Chandra said in its monthly sales statement that registrations have picked up pace towards the end of the month (September), which augurs well for the festive period ahead.
“We remain focused on driving up consumer preference for our exciting range of vehicles while maintaining the health of our dealer network,” he added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Oct 06 2024 | 12:08 PM IST
