During the Navratri festival, auto retail sales witnessed a robust recovery with growth ranging between 15-35% year-on-year (YoY) across passenger vehicle (PV) and two-wheeler (2W) segments.
Further, Dhanteras and Deepawali are set to deliver peak festive sales for both PVs and 2Ws.
According to a report by Centrum Institutional Research, retail demand in the PV segment across dealerships grew between 15-22% YoY, led by major automakers including Maruti Suzuki India (MSIL), Tata Motors (TTMT), Honda Motor India (HMI), and Mahindra & Mahindra (M&M).
The report further said that the overall tone from dealers suggests that retail growth during Navratri stood in the range of approx. 15-35% YoY across PV and 2W. Dhanteras & Deepawali are expected to deliver peak festive sales.
The 2W segment recorded higher growth of 25-35% YoY across Honda, Hero, TVS, and Royal Enfield, although Bajaj sales remained muted during the period, it added.
In the PV segment, the festive sentiment has resulted in a sharp 35-40% surge in dealership footfalls. This boost was supported by recent price corrections, including GST rate cuts, and a notable increase in first-time buyers.
For two-wheelers, premium and 125cc+ offerings continued to outperform, with TVS and Royal Enfield leading the growth trajectory.
The report highlighted that the first 20 days of September were impacted due to purchase deferrals amid GST-cut implementations, but momentum picked up in the latter half of the month and continued into early October.
Separately, in the run-up to the Diwali holidays, hospitality and travel services providers are witnessing robust demand. They registered strong bookings across urban and leisure destinations, with intercity bus services occupancy levels even touching 95-100%.