Record: 42.88 lakh vehicles sold in 42 days of festivity

New Delhi| There has been record retail sale of vehicles during the festive season this year. A total of 42.88 lakh vehicles have been sold in the 42 days from Navratri to 15 days after Dhanteras. This is 11.76 per cent more than last year’s festive season of 38.37 lakh. This time the festive season has lasted from October 3 to November 13.

According to the Federation of Automobile Dealers Associations (FADA), two-wheeler sales rose 13.79 percent to 33.11 lakh due to strong rural demand. Sales were slow at the beginning of the festive season. Later it increased. Sales of passenger vehicles increased by 7.10 percent to 6.03 lakh units due to increased demand and huge discounts. FADA estimates that this huge sale will reduce the stock of passenger vehicles. We could have achieved the target of sales of 4.5 million units or more, but unseasonal heavy rains in South India, especially Bangalore and Tamil Nadu, dashed it, FADA said. The cyclone affected Odisha. It’s still 1.5 months before this year ends. Fada says there should be a focus on finishing inventory, so that in 2025 we enter with 21 days of inventory. FADA President CS Vigneshwar said, we will have to wait three months to get the 21-day inventory level.

That’s why sales increased
Higher inventory levels led automakers to ship fewer vehicles to dealers. Also, sales were continuously declining. That’s why more discount was also given. The combined market share of Maruti Suzuki and Hyundai has fallen to a 12-year low in the first half of the current fiscal year, Jefferies reported. This is because the preferences and competitive position of passenger vehicle customers are changing.
Mahindra and Toyota’s stake has reached its highest ever. Mahindra’s share has grown to 12.5%.