Over half a million cars sold in a month since GST 2.0

Auto industry emerges as one of the biggest beneficiaries of tax cut with sales more than doubling since September 22

- SWARAJ BAGGONKAR

THE GST 2.0, which came into force a month ago, has given a significant push to the automotive industry, with car sales more than doubling to over half a million units.

Market observers say that the retail total of the entire passenger vehicle industry between the implementation of the new goods and services tax (GST) rates on September 22 and Diwali could be anywhere between 650,000-700,000 units.

The automotive industry, which usually saw average 30-day sales of 250,000-300,000 cars, has emerged as one of the biggest beneficiaries of the GST reforms.

Between September 22 and October 18, Maruti Suzuki, the country’s largest carmaker, retailed 350,000 units, making it an average of nearly 13,500 units a day. Bookings, however, crossed 450,000 units.