India Begins To Clock Strong Car Sales Under New GST Regime

(MENAFN- IANS) New Delhi/Mumbai, Sep 23 (IANS) The auspicious start of Navratri, amplified by the momentum from the GST 2.0 reforms, has infused strong positivity into the automobile market, with car dealers registering robust sales across the country.

The GST reforms have considerably brought down prices of passenger and commercial vehicles, in cheers for customers.

While Maruti Suzuki said its retail sales were likely to surpass 30,000 units on Day 1 of the rate rationalisation, Hyundai Motor India Limited (HMIL) recorded nearly 11,000 dealer billings, its highest single-day performance in the last five years.

According to Tarun Garg, whole-time director and COO, HMIL, this is a clear testament to robust festive sentiment and customer confidence.

“As one of the first automobile companies to fully pass on the full GST benefits to customers, we are delighted to make our customers' celebrations even more joyful. Looking ahead, we anticipate sustained festive demand and remain committed to delivering value and excitement to our customers,” he mentioned.

With GST rate cuts, customers rushed to purchase their preferred models at reduced prices.

According to Maruti Suzuki, the customer response on the first day of Navratri and the GST rollout has been extremely encouraging.

The company dealerships reported around 80,000 customer enquiries on Monday. With reduced prices, there has been a 50 per cent increase in the number of bookings for the small cars.

According to the Federation of Automobile Dealers Associations (FADA), the automotive dealers witnessed increased footfalls as buyers thronged dealerships in large numbers on Monday to buy cars.

Car dealers welcomed the next generation GST reforms, saying the changes will increase purchasing power and give a big push to the economy. They also praised Prime Minister Narendra Modi for introducing the measures during the festive season.

-IANS

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