Dhanteras engine fires up auto market: Over 1 lakh cars delivered in 24 hours

New Delhi, Oct 19 (IANS) The festive spirit roared through India’s automobile market this Dhanteras, as automakers clocked record-breaking deliveries, crossing the 100,000 mark within just 24 hours, according to industry sources.

Driven by robust festive demand and the positive impact of GST 2.0 reforms, the auto sector saw one of its strongest single-day performances in years.

According to industry estimates, these deliveries translated into sales worth Rs 8,500–10,000 crore in a single day, based on an average vehicle price of Rs 8.5–10 lakh.

Leading carmakers including Maruti Suzuki India (MSIL), Tata Motors Passenger Vehicles, and Hyundai Motor India (HMIL) reported record sales this festive season, as consumer confidence hit a high gear.

Amit Kamat, Chief Commercial Officer at Tata Motors Passenger Vehicles Ltd, said that this year’s Dhanteras and Diwali deliveries were spread over two to three days, aligning with auspicious muhurat timings.

“Overall demand has been robust, and the GST 2.0 reform has further provided positive momentum. We expect to deliver over 25,000 vehicles during this period,” he noted.

Echoing the sentiment, Tarun Garg, Whole-time Director and COO of Hyundai Motor India Ltd, said the company witnessed strong customer demand, with deliveries expected to touch around 14,000 units -- nearly 20 per cent higher than last year.

The broader festive season has also fuelled consumer spending across other sectors. Gold and silver sales surged over 25 per cent in value, while overall Dhanteras trade was estimated to have crossed Rs 1 lakh crore, according to the Confederation of All India Traders (CAIT).

The All India Gem and Jewellery Domestic Council (GJC) reported strong buying activity following a sharp correction in gold prices.

“We expect festive sales to cross Rs 50,000 crore this season. Despite high gold and silver prices, consumer sentiment is upbeat, driven by early wedding purchases and strategic festive buying,” said GJC Chairman Rajesh Rokde.

From automobiles to jewellery, the Diwali season has brought a wave of optimism to India’s retail landscape.

Experts say the combination of festive spirit, economic recovery, and tax reforms under GST 2.0 has reignited consumer sentiment -- making this one of the most buoyant festive seasons in recent memory.

--IANS

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