PV retails surge in Navratri period

Passenger vehicle retail sales shot up 35 per cent year-on-year during the nine-day Navratri period this year, helping the overall registrations last month grow 6 per cent, as offtakes remained muted in the first 21 days of the month and only took off after the roll-out of new GST (Goods and Service Tax) rates September 22, dealer’ body FADA said Tuesday.

- PRESS TRUST OF INDIA

Overall passenger vehicle retails in the auspicious period stood at 2,17,744 units as compared with 1,61,443 units in the Navratri period last year.

The bumper sale led to the passenger vehicle retail sales rise to 2,99,369 units in September, a modest growth of 6 per cent as against 2,82,945 units in the same month last year, as customers eyeing price cuts after new GST rate roll-out post September 22, postponed buys in the first half of the month.

The Navratri period witnessed record-breaking footfalls at dealerships and subsequent deliveries, he noted.

‘The reduction in GST rates, coupled with festive demand, led to renewed enquiries and bookings, although limited billing days restricted the full potential of the rebound, the Federation of Automobile Dealers Associations (FADA) said.