Two-wheelers zoom, cars too join party on dhanteras | business | Hindustan Times
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Two-wheelers zoom, cars too join party on dhanteras

business Updated: Oct 21, 2014 23:40 IST
Sumant Banerji

Domestic car and two-wheeler manufacturers revelled on a bumper Dhanteras on Tuesday, traditionally a day when the largest number of vehicles are delivered to customers across India, which acted as a booster dose to the uncertain fortunes of the industry.

Almost all dealerships across companies postponed plans of their own festivities and worked overtime as customers, including those who had booked as long back as August, opted to receive delivery of their vehicles on Tuesday. Compared to a normal working day sales, deliveries spiralled almost six times fuelled by a belief that it is auspicious to buy metal on Dhanteras.

“On a high base of last year (6,800 units), we have delivered 8,100 units on Tuesday this year, a growth of nearly 20%,” said Rakesh Srivastava, senior vice-president, marketing and sales, Hyundai Motor India Ltd.

The festive cheer was more pronounced in the two-wheeler segment, where some companies witnessed double-digit growth.

“Festive season has been very good for us. We expect to clock close to 150,000 in retail sales on Tuesday, which will be a 40-50% growth over our sales on the same day last year,” said a spokesperson at the world’s largest two-wheeler maker, Hero MotoCorp.

Rival Honda Motorcycle and Scooter India said many of its dealerships had run out of stock by mid-evening. Honda expects 80-100% growth in sales over last year, when it sold nearly 80,000 units.

“This year Dhanteras has been extremely positive for us. We have witnessed a growth of 80-100% which is in line with our expectations,” said YS Guleria, vice-president, sales and marketing, HMSI.