Navratri: Auto, appliance, consumer goods firms witness record sales

Major companies across sectors, including automakers, consumer electronics, and consumer goods, have reported record sales during the nine-day auspicious Navratri period, according to data shared by leading firms.

The robust sales were aided by the recent GST reform, which saw a substantial drop in tax rates, leading to price reductions across consumer goods, appliances, such as TVs (above 32-inch screen size), air conditioners and automobiles.

The industry reported a spike in sales from day one on September 22, when the new slashed rates came into effect.

Encouraged by this, the makers of automobiles, appliances and consumer electronics expect a double-digit growth, in volume and value terms, in the almost 45-day-long festive season this year, which will conclude after Diwali. The country's largest car maker, Maruti Suzuki India, reported sales of 1.65 lakh units in the first eight days of Navratri, its highest in the last 10 years.

The company expects to touch a whopping 2 lakh unit sales in the Navratra period. Besides, Maruti Suzuki reported pending bookings of nearly 2.5 lakh units. The company retailed 85,000 vehicles last Navratri. Other automakers like Tata Motors, Mahindra & Mahindra and Hyundai Motor India also saw robust sales during the period.

The appliances and consumer electronics makers, such as LG, Haier, and Godrej Appliances, reported high double-digit sales growth this Navratri compared to the last year.

Haier Appliances India has witnessed around 60 per cent year-on-year growth during Navratri. Moreover, consumers also upgraded their choices by going for higher screen sizes of TV sets and energy-efficient room air conditioners with smart features.

Haier's sales soared 85 per cent, nearly selling out its Diwali stock of 85-inch and 100-inch TVs priced above Rs 2.5 lakh. The company also sold 300–350 units of 65-inch TVs daily during the period. Sales at India's largest retailer Reliance Retail grew by 20-25 per cent over last year's Navratri, with categories like large-screen TVs, smartphones, and fashion driving the sales momentum. Electronics retail chain Vijay Sales too saw a more than 20 per cent sales growth.

LG Electronics India also noted "exponential growth" in sales this Navratri season.

The rationalisation of GST slabs and easing the tax burden on essential and aspirational items has resulted in sales growth for India's consumption-driven economy.

In a landmark tax reform, the government has moved to two-tier slabs of 5 per cent and 18 per cent, effective from September 22, the first day of Navaratri.

This has led to the petrol, LPG and CNG vehicles of less than 1,200 cc and not more than 4,000 mm length and diesel vehicles of up to 1,500 cc and 4,000 mm length moving to the 18 per cent rate from the current 28 per cent.

All automobiles above 1,200 cc and longer than 4,000 mm, as well as motorcycles above 350 cc and racing cars, are being charged with a 40 per cent levy.

While in appliances, the government has reduced 10 per cent duty on room-air conditioning (RAC) and TV screens above 32 inch size and dishwashers.

The festive season, which starts from Onam in South and stretches up to Diwali, covering Dussehra, accounts for 40–45 per cent of total sales, making it the largest consumption period in the country.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)