This October may be bumper month for car sales, figures could be best in decade
October is all set to be a blockbuster month for car sales with dealers expecting to do brisk business owing to festivities on most of the 31 days. With Covid-19 pandemic on the decline and a largely positive sentiment in the Indian automotive market courtesy a slew of new launches through the year, indications are that this month could well be the best October - in terms of sales - in around a decade.
As per The Federation of Automobile Dealers Associations (FADA), multiple indicators are strongly pointing to the possibility of near record sales this month. Pointing to 24 days of the 31 this month witnessing festivities, FADA states that dealers are extremely optimistic. What is further aiding the positive sentiments are the easing of supply-chain-related issues and production is mostly on the way up, a good sign to deal with the pent-up bookings and demand. “Better availability due to easing semi-conductor supply, new launches and feature rich products kept customers glued to dealerships for getting their favourite vehicles during the auspicious period," said Manish Raj Singhania, FADA President, while specifically pointing to demand for SUVs. He added that the average wait time for a new vehicle in the market is anywhere between three months and 24 months.
Car sales in September continued to be in the green, registering a 44 per cent growth when compared to the pre-Covid September of 2019. And although the overall figures in the industry last month was still slightly lower than the pre-Covid September of 2019, the worst is clearly well behind and the full potential up ahead. FADA, however, continues to urge manufacturers to match supply with demand so that the segment as a whole ‘can further receive a nitro-boost.’