PV sales to cross 10 lakh mark in festive period this year
The 68-day festive period this year falls between August 17 and November 14. Few days in between are not considered auspicious for buying.
NEW DELHI: Domestic passenger vehicle (PV) sales are expected to cross 10 lakh mark in the festive period this year with demand remaining robust, especially for utility vehicles.
The 68-day festive period this year falls between August 17 and November 14. Few days in between are not considered auspicious for buying.
Maruti Suzuki India senior executive officer (Marketing and Sales) Shashank Srivastava said usually the festive season sales account for around 22-26 per cent of the overall sales during a year. “With the overall passenger vehicle sales expected to be in the range of 40 lakh units this fiscal, the festive season is expected to witness sales of around 1 million units,” he said. Srivastava said the industry has witnessed strong sales this year and the same is expected to continue in the coming months as well.
“We have seen the best ever April, May, June and July in terms of sales this fiscal. July witnessed the second highest sales ever in a month at around 3.52 lakh units. August is also expected to be in the range of 3.5 lakh units,” Srivastava said.
Expressing similar sentiments, Tata Motors passenger vehicles MD Shailesh Chandra said “We all expect that the festive season is going to be really good...the demand has remained very strong and it is at a sustainable level for multiple quarters. So we therefore are pretty confident about the period.” Automobile dealers’ body FADA has noted there’s an optimism about a rise in retail as the industry approaches the festive season. The inventory level in the PV segment has breached the 50-day mark in anticipation of the upcoming festival season.