New Delhi: With the festival season in full swing, automobile dealers expect a huge spike of around 40 per cent in car and two-wheeler sales in the run-up to Diwali across the country.
Auto dealers say that between Navratri and Diwali, nearly two lakh passenger vehicles are likely to be sold while around 8 lakh units so far have been booked.
According to Federation of Automobile Dealers Associations (FADA), the retail sales segment witnessed 57 per cent growth during Navratri period.
Similarly, according to Society of Indian Automobile Manufacturers (SIAM), domestic passenger vehicle sales saw 92 per cent year-on-year growth to 3,07,389 units in September.
The total passenger vehicle sales consisting of cars and vans in the domestic market stood at 1,60,212 units in September last year.
FADA President Manish Raj Singhania was quoted in media reports as saying that dealers are expecting record bookings as customers insist on deliveries during Dhanteras period.
According to auto retailers, sales rose by 11 per cent in September owing to enhanced supplies from manufacturers with the onset of Diwali season.
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The first half of the current financial year turned out to be the best-ever for PV segment, however concern still remains in the entry-level category of PVs and two wheelers alike. As for OEMs, Tata and Mahindra gained a portion of the pie while Hyundai lost about 3 percentage points. Similarly, Hero MotoCorp is also down by 3 percentage points while others like HMSI have reported a gain during the first six months.