GST Reforms Drive Massive Festive Sales for Auto Giants
Maruti Suzuki and Hyundai Motor India experience record-breaking sales, fueled by new GST reforms and Navratri celebrations. The reduced prices and tax benefits led to increased demand, with thousands of car deliveries in a single day and heightened customer interest across major cities.
- Country:
- India
Newly implemented GST reforms coupled with the auspicious start of Navratri have driven Maruti Suzuki and Hyundai Motor India to record-breaking sales figures. Maruti Suzuki reported over 25,000 deliveries, with expectations to cross 30,000 by the day's end. This surge reflects a 50% increase in small car bookings as prices drop.
Hyundai's COO, Tarun Garg, described the day's success as a testament to positive consumer sentiment. Hyundai witnessed 11,000 dealer billings on the first day alone, marking the highest single-day performance in five years. The optimism is set to maintain momentum, bolstered by GST 2.0 reforms.
CARS24 reported a 400% surge in car deliveries compared to daily averages, signaling consumer confidence in response to price reductions. SIAM DG Rajesh Menon emphasized the automotive sector's role in enhancing domestic self-reliance amid ongoing economic growth.
(With inputs from agencies.)
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