This festive period may be best time to buy your favourite wheels. Here's why
The months of September and October often tend to be looked at with longing eyes by car and two-wheeler makers in India. Irrespective of how a calendar year has been, these festive months almost always see an uptick in sales with offers galore and sales more so. 2019 was a challenging year for the Indian auto sector for a number of reasons but even still, the festivities had come as a shot in the arm for the industry. And while 2020 has been even more challenging, the key question is if the festive months now will provide some impetus.
July and August have seen most car and two-wheeler makers report positive sales figures compared to previous months of the year. Some of these manufacturers have even shown a positive year-on-year growth which is quite remarkable. And yet, the auto industry - much like several other industries - remains in murky waters of uncertainty. As such, new launches as well as offers and schemes could make buying a vehicle now the perfect time to get the best bang for the buck.
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Several car makers, for example, have begun launching new or face-lift products now. While festivities across the country may be rather muted because Covid-19 remains a clear and present threat, expect OEMs to start announcing offers in a bid to bolster sales.
Many analysts do warn that while July and August have brought about some hope, the sales figures could have also been impacted by pent-up demand from lockdown months and that the festive months around the corner may end up being more dismal than before. But it is this that could also prompt OEMs to roll out more financial schemes that make it easier for prospective customers to make purchases.
So should you strongly consider making a purchase?
In current times of uncertainties, the used-car business is likely to see a boom and this is especially expected in the upcoming months. As for getting a brand new car or two-wheeler, this decision is likely to be based on an individual's financial planning and security. It may not be prudent to make a massive financial investment at this point in time, at least not if the buy isn't a necessity. And yet, desperate times call for desperate measures and attractive offers expected from most OEMs may also mean that now could be the most lucrative time to buy your favourite wheels. It is strongly advised that in either case, prospective buyers assess their personal financial status and patiently assess their options before arriving at a decision - one way or the other.