Auto and consumer electronics sales rise due to festive season discounts and offers: Report

Electronics, smartphones and automobiles usually see up to 30% of their annual sales coming from Onam, Navratri, Dussehra and Diwali

Published on: Sep 15, 2024, 12:34:38 IST

By HT News Desk

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Sales of automobiles and consumer electronics increased after sluggish demand so far this year due to the discounts and promotional offers for the occasions of the ongoing Ganesh Chaturthi and Onam festivals, the Economic Times reported, adding that the premium segments continued to drive most of the demand.

Maruti Suzuki reported a 10% increase in bookings in Kerala ahead of Onam and deliveries in Maharashtra and Karnataka rose at the same pace on the first day of Ganesh Chaturthi (Ramesh Pathania/Mint)

Electronics, smartphones and automobiles usually see up to 30% of their annual sales coming from Onam, Navratri, Dussehra and Diwali, the report read.

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How much did auto sales increase because of the festive season?

Maruti Suzuki reported a 10% increase in bookings in Kerala ahead of Onam and deliveries in Maharashtra and Karnataka rose at the same pace on the first day of Ganesh Chaturthi, according to the report.

Meanwhile, two-wheeler sales grew at 15-16% during Onam.

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This is also because of the pent-up demand due to weak sales in the first five months due to elections and weather disruptions, the report quoted Federation of Automobile Dealers Associations (FADA) president C S Vigneshwar as saying.

The auto industry volumes are expected to increase by about 15% over the average monthly sales of 330,000 units seen in the first five months of the fiscal year, the report read.

How much did consumer electronics sales increase because of the festive season?

Consumer electronics sales rose 7-8% compared to last year, according to the report.

Frost-free refrigerator sales grew 15% during Onam, while entry level single-door refrigerators sales declined by 6-7%.

Fully automatic washing machine sales went up 12-13% while semi-automatic ones saw a more marginal growth of 4-5%.

Apple's new iPhone 16 series saw better demand compared to last year with bookings having opened on Friday, September 13, 2024.

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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