Automakers, consumer goods companies and home appliance makers on Friday reported blockbuster sales during Dhanteras and expected the trend to continue for the next three days. Manufacturers reported high double-digit sales growth in Dhanteras pre-Diwali compared to the same period last year due to attractive benefits and enhanced schemes. According to Shashank Srivastava, Maruti Suzuki’s senior executive officer, marketing and sales, Dhanteras is expected to account for more than 21% of deliveries in the passenger car industry.
Hyundai Motor India Ltd (HMIL), the country’s second-largest carmaker, reported a two-fold jump in vehicle deliveries last year.
Similarly, major companies like LG Electronics, Panasonic and Godrej Appliances have also reported a 15-20 times increase in pre-Diwali Dhanteras sales.
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“Deliveries have been brisk this Dhanteras. Industry deliveries from Dhanteras to Bhai Dooj are estimated to be in the range of 55,000 to 57,000 units, which is an increase of over 21 per cent. Yes,” Srivastava said.
Last year, the industry delivered around 45,000 units during this period.
“HMIL celebrated the auspicious day of Dhanteras with an unprecedented delivery of 10,293 units, more than double last year’s figure. This is a testament to our accolades,” said Tarun Garg, COO of the company. .
According to industry group CAIT, transactions in automobiles, tableware, kitchen equipment, and electronic equipment surged today.
According to estimates by the Confederation of All India Traders (CAIT), more than 50,000 rupees worth of transactions were made across India on Friday, with Delhi alone reaching 50,000 rupees.
Additionally, companies dealing in home appliances and household appliances are also experiencing healthy double-digit growth of 15-20%.
“Dhanteras has seen 15% growth across categories and good footfall across cities,” said Ashish Agrawal, senior VP and head of GTM, LG Electronics India.
Similarly, an official from Panasonic Life Solutions India said, “We are seeing 10-12 growth in this year’s Dhanteras compared to last year’s Dhanteras.”
Kamal Nandi, business director and executive vice president, Godrej Appliances, said the industry is expected to grow by up to 20-25 per cent (by value) this year due to increased demand for premium products across all categories.
“This growth is primarily driven by urban markets,” said Nandy, adding that one reason is that this year, Dussehra and Diwali will be held in two separate months, October and November, unlike last year. He added that it is true.
But he also expressed concern that entry-level, high-volume products aren’t selling well this holiday season.
Asked about Dhanteras’ sales, Nandi said the industry was reporting 10-15 per cent growth and would see further growth on Friday.
Eric Braganza, president of the Consumer Electronics Manufacturers Association, said the industry will see double-digit growth this festive season.
He said, “Some products such as smart TVs are doing very well, and they are also affected by the ICC World Cup, which is being held at the same time as the holiday season.”This season, we are selling refrigerators, washing machines, and air purifiers. He added that other products, such as, also performed well. Things are going well in some parts of the country.
Braganza said the industry will see good growth.
However, he added, “This year’s festive sales are not limited to one day…The industry is seeing strong sales right from Navratra.”
Even a company like Bikano operating in the FMCG space is expected to grow by more than 40% based on historical trends.
“We are expecting a 40 per cent increase in sales this Diwali,” said Manish Agarwal, director of Bikano.
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