Diwali & Dhanteras 2022 Festivities Give Big Boost to PV Sales, PV segment Registers Tenfold Growth

Diwali festivities have brought good numbers to the automobile industry as Indians went on a buying-spree during Dhanteras. In two days of Dhanteras, the PV sales increased tenfold.

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Diwali festivities have brought good numbers to the automobile industry as Indians went on a buying-spree during Dhanteras. In two days of Dhanteras, the PV sales increased tenfold.

Highlights

► On the eve of Dhanteras, PV sales have skyrocketed.

► Economic Times Report suggests a tenfold sales increase in two days of Dhanteras.

► Maruti Suzuki itself delivered 21,000 units in these two days.

Dhanteras is a very fortunate time to make a new purchase. It's the days when car sales normally skyrocket compared to any other day of the year, especially in the north, and Dhanteras this year has been no exception. According to an Economic Times story, passenger vehicle sales increased by roughly a tenth during the two days of Dhanteras. Having said that, the sector is currently dealing with a supply chain problem as a result of the semiconductor chip shortage, and automakers have approximately 8.5 lakh orders pending.

Experts now believe that the situation has improved significantly since last year, when the auto industry was hampered by a chip shortage. Maruti Suzuki, which is expected to deliver roughly 21,000 units in the two days of Dhanteras, reported a 9% increase in sales compared to last year's Dhanteras. Indeed, PV sales are likely to climb by double digits across all segments this year. Even two-wheeler sales are predicted to increase by more than 15%.

Despite the industry's efforts to enhance its supply chain, delivering sufficiently over the impending holiday season remained a struggle for the auto sector this time around. Previously, Manish Raj Singhania, President of the Federation of Automobile Dealers Association (FADA), stated that automakers must prioritize the models and variants that are in high demand, and that such extended wait times are detrimental to the industry. He also stated that overall sales will increase and retail numbers will increase as manufacturers produce more and whatever they produce is sold. Yes! Dealerships have little inventory but have kept a steady flow of product.

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