The four-month-long festive season has turned out to be positive for the auto industry, with preliminary estimates suggesting strong sales. Sources in automobile dealerships and luxury carmaker Audi indicated good demand and sales in the festive season.
“Sales have been good in this festive season. The trend has been positive, and we can expect the industry to clock at least an 8–10% jump this festive season in comparison to the previous festive season,” sources in the dealership industry said.
The auto retailer body, the Federation of Automobile Dealers Associations (FADA), will be releasing its 42-day festive period data soon.
Like its peers, Audi India also witnessed growth in the festive season. In an exclusive response to CNBC-TV18, Balbir Singh Dhillon, Head of Audi India, said, “We have been operating with one of our highest-order banks in recent times. While we don't share a breakup of sales, this festive season marked bigger celebrations for Audi India as we witnessed growth on the back of sustained demand."
The luxury car maker recorded 88% growth, with 5,530 units retailed between January and September. Audi saw a huge demand for the A4, Q3, Q3 Sportback, Q5, and S5 Sportback this festive season.
The luxury car maker also saw good demand for its luxury electric vehicles, the Q8 e-tron and the Q8 Sportback e-tron.
Delhi and Mumbai were the biggest markets for Audi in the festive season. Good demand was also registered from Hyderabad, Kolkata, Chennai, Bengaluru, and Ahmedabad.
Optimistic on volumes, Dhillon said, “This year, the luxury car industry in India will surpass 2018 volumes and reach the 46-47,000 mark, and we are looking to end the year with high double-digit growth."
As per FADA data in Navratri 2023, retail sales registered an 18% YoY jump, surpassing the figures of Navratri 2017.
Except for tractors, which saw an 8% decline, all categories registered growth with two-wheelers, three-wheelers, commercial vehicles, and passenger vehicles registered a growth of 22%, 43%, 9%, and 7%, respectively.
(Edited by : Ajay Vaishnav)
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