A bumper Dhanteras on Friday has brought smiles to domestic car and two wheeler manufacturers after a slow start to the festive season and a disappointing Navratras.
Domestic car market leader Maruti reported a nearly 40% jump in sales to cross 15,000 units, as compared to 10,800 units last year. Hyundai also registered a 17% growth with a sale of 6,800 units.
Almost all dealerships nationwide curtailed holiday plans as they worked overtime on Dhanteras, traditionally a day when the highest number of vehicles are delivered. Customers who had booked vehicles as far back as September opted to receive delivery of their vehicles on Friday.
“This year Dhanteras has been very good for us, better than expected,” said Mayank Pareek, chief operating officer marketing and sales, Maruti Suzuki India Ltd. “We are smiling for the first time in many months.”
Domestic two-wheeler market leader Hero Motocorp also breached the psychological 100,000 mark on Friday, registering a 10% growth.
“We retailed over 110,000 units on Dhanteras day, higher than our previous year’s Dhanteras sales. This is on the back of our record retail sales in October,” said a Hero MotoCorp spokesperson.
The two-wheeler industry seems to have turned a corner with sales of 600,000 units last month.
Hero’s ex-partner Honda had the best growth figures. The company sold 80,000 units this year, a 90% growth over last year.
“We would have crossed the 100,000 mark if we had enough stocks,” the Honda spokesperson said.
With two more days of festivity to go, the industry hopes to gather enough momentum to break the cycle of slowdown of the past two years.