Passenger vehicle sales expected to cross 1 million units in upcoming festivals
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Maruti Suzuki India’s senior executive officer (marketing and sales) Shashank Srivastava told ‘PTI-Bhasha’ that sales usually increase during festivals, which is around 22-26 per cent of the whole year’s sales.
New Delhi. Domestic passenger vehicle sales are expected to cross the one million unit mark this year during the festive season. This year the 68-day festival season will start from 17th August till 14th November. However, some days during this period are not considered auspicious for shopping. Maruti Suzuki India’s senior executive officer (marketing and sales) Shashank Srivastava told ‘PTI-Bhasha’ that sales usually increase during festivals, which is around 22-26 per cent of the whole year’s sales. “Total passenger vehicle sales are expected to be in the range of 4 million units this fiscal, with around 1 million units expected to be sold during the festive season,” he added. ,
Srivastava said that this year the industry witnessed strong sales and it is expected to continue in the coming months as well. “We have seen the best ever performance in April, May, June and July in terms of sales in this financial year. July saw the second highest ever sales in a single month at around 3.52 lakh units. It is expected to be around 3.5 lakh units in August as well.” The high rate of vehicle loans is also a matter of concern as about 83 per cent of consumers take loans to buy cars. Asked about Maruti Suzuki India’s sales projections, Srivastava said the company sees sales during festivals as around 22-25 per cent of its total annual sales. The Federation of Automobile Dealers Associations (FADA) has predicted a rise in retail sales during the festive season.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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