GST Boosts Festive Car Sales Surge

In a noteworthy development, leading automobile manufacturers, including Maruti Suzuki, Tata Motors, and Mahindra & Mahindra, have reported remarkable sales growth for September. Reduced vehicle prices, following the GST 2.0 tax reforms, coupled with heightened demand during the Navaratri festive period, have propelled this surge.

With Tata Motors and Mahindra & Mahindra securing top positions in vehicle wholesales, the Indian automotive market has witnessed a promising upswing. Maruti Suzuki India, despite a minor logistical hiccup, achieved notable retail sales figures, showcasing a significant year-on-year increase. The company attributed the robust growth to GST reforms.

Industry experts foresee sustained positive momentum, with companies like Tata Motors and Mahindra eyeing further production enhancements. The GST reforms have importantly slashed taxation rates for small vehicles, allowing consumers to benefit from financial savings, thus positively impacting both domestic and export market dynamics.

(With inputs from agencies.)