GST 2.0 Sparks Festive Season Sales Surge
With the advent of GST 2.0, festive season sales are soaring for car makers and consumer durables alike. Automotive giants like Tata Motors and Maruti Suzuki report impressive single-day sales, while electronics firms benefit from reduced GST rates, fueling consumer enthusiasm and boosting the market.
- Country:
- India
The introduction of GST 2.0 has ushered in a burst of consumer activity in the automotive and electronics sectors, igniting festive season sales. Leading car manufacturers Tata Motors and Maruti Suzuki have reported significant sales figures as the festival season begins, thanks to reduced GST rates.
Tata Motors highlighted a retail of approximately 10,000 passenger vehicles on the first day of Navratri, coinciding with the GST reduction. Similarly, retail figures for Maruti Suzuki surged to around 30,000 units, whilst Hyundai saw dealer billings hit a five-year high.
The consumer durables sector also reaped benefits. Panasonic Life Solutions reported a record start with a rise in AC sales, fortifying a growth streak underpinned by consumer-friendly GST amendments. Nilesh Gupta of Vijay Sales acknowledged increased store traffic, signaling elevated consumer discretionary spending potential.
(With inputs from agencies.)
ALSO READ
Tata Motors Sees Surge in Sales This Navratri
GST Reforms Ignite Record-Breaking Car Sales for Maruti Suzuki and Hyundai
Hyundai Motor Unveils Bold Strategy to Boost EV Sales and Expand Global Footprint
Executive Shake-Up: Tapan Kumar Ghosh Resigns from Hyundai Motor India
Hyundai's Ambitious Foray into Reviving U.S. Shipbuilding
Google News