Cars To Appliance Sales Grow In High Double Digits This Dhanteras

Automobile manufacturers, consumer goods companies and appliance makers on Friday reported blockbuster sales during Dhanteras and expect the trend to continue for the next three days.

The manufacturers have reported a high double-digit growth during pre-Diwali Dhanteras sales, in comparison with the same period last year, led by enhanced attractive offers and schemes.

According to Maruti Suzuki Ltd. Senior Executive Officer Marketing and Sales Shashank Srivastava, the passenger vehicles industry is expected to post over 21% in deliveries on Dhanteras.

The country’s second-leading auto maker Hyundai Motor India Ltd. reported a two-fold jump in delivery over the last year.

Similarly, leading companies such as LG Electronics, Panasonic, and Godrej Appliances have also reported 15-20% growth in pre-Diwali Dhanteras sales.

“This Dhanteras we have seen brisk deliveries. It is estimated that from Dhanteras to Bhai Dooj, industry deliveries will be in the range of 55,000 to 57,000 vehicles which will be a growth of over 21%,’ said Srivastava.

Last year, the industry delivered around 45,000 units during this period.

“HMIL marked the auspicious day of Dhanteras by delivering an unprecedented 10,293 units, surpassing last year’s figure by more than double. This huge number of deliveries stands a testament to the overwhelming admiration our customers have for the Hyundai brand,” said its COO Tarun Garg.

Industry body CAIT said sales of automobiles, utensils, kitchen equipment, and electronics saw a surge in trade today.

According to an estimate by the Confederation of All India Traders, on Friday there was a trade worth more than Rs 50,000 crore across the country, while in Delhi alone it was Rs 5,000 crore.

Besides, companies operating in the appliances and consumer electronics are also witnessing a healthy double-digit growth of 15-20%.

“This Dhanteras, we are witnessing 15% growth across categories there are good footfalls across cities,” said LG Electronics India Senior VP & Head GTM Ashish Agrawal.

Similarly, a Panasonic Life Solutions India official also said, “This year on Dhanteras, we are witnessing 10-12% growth in comparison with Dhanteras last year.”

Godrej Appliances Business Head and Executive Vice President Kamal Nandi said this year the industry would see up to 20-25% (value) growth, led by increased demand of premium products across categories.

“This growth is largely led by the urban market,” said Nandi, adding that one of the reason is this year Dussehra and Diwali lies in two separate months — October and November, unlike last year.

However, he also raised concerns as the entry-level mass products are not picking up during the festive season this year.

When asked about the Dhanrteas sales, Nandi said the industry reported 10-15% growth, which will be higher on Friday.

This festive season, the industry would have a double-digit growth, Consumer Electronics and Appliances Manufacturers Association President Eric Braganza said.

“Some products such as smart TVs have really done well, which is also helped by the ongoing ICC World Cup, which is coinciding with the festive season,’ he said, adding that this season other products such as refrigerators, washing machines and air purifiers in some parts of the country are doing well.

Braganza said the industry will have good growth.

However, he added, “This year, festive sales are not confined to just one day… the industry is having good sales right from Navratra.”

Even companies such as Bikano operating in the FMCG space are expecting over 40% growth based on the earlier trends.

“We anticipate a 40% increase in sales this Diwali,” said Bikano Director Manish Aggarwal.

. Read more on Business News by BloombergQuint.

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