The auto industry is said to have generated a turnover of over Rs 1.1 lakh crore.
Automotive sales crossed the 1 million unit milestone this festive season. 1.03 million cars and SUVs were sold in India during the 90-day festive period that began with Onam in Kerala and culminated with Bhai Dooj.
According to media reports, over 7 lakh vehicles were sold between August 17, 2023 and the end of Navratri, registering a growth of 18%. An additional 3.25 lakh to 3.3 lakh vehicles were sold between Dussehra and the end of the festive season. With over a million cars delivered, the industry registered a 20-25% growth in sales compared to the last festive season.
The auto industry is said to have generated a turnover of over Rs 1.1 lakh crore thanks to the festive rush. Moreover, the surge in sales is also expected to boost the government’s GST collection.
India’s premier automaker, Maruti Suzuki, witnessed higher growth in rural markets. Rural sales grew by 11%, contributing 44% to the total sales.
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