look news india
New Delhi, 4 October (Hindustan Reporter). The country's automobile sector, which has been facing slowdown for a long time, is hoping to bounce back once again in the month of October. With the beginning of Navratri from October 3, the overall sales of the automobile sector are expected to increase. Buying a new car during Navratri is considered auspicious in North India. This is why sales of two and four wheelers usually increase during this period.
The last few months have been very slow in terms of passenger vehicles. Even in the first quarter of the current financial year, automobile companies had to face the brunt of slowdown in demand. Although the busyness of Lok Sabha elections and the summer season were held responsible for the decline in demand for passenger and commercial vehicles and two-wheelers during the first quarter, after the end of the first quarter, there was no increase in demand for the automobile sector even in July and August. Could come.
The automobile sector was expecting that the market demand would increase during festivals like Ganesh Chaturthi and Onam in the month of September, but the demand for passenger vehicles, two wheelers or commercial vehicles remained sluggish in the month of September also. Due to the beginning of Pitru Paksha in the second fortnight of September, the sales of the automobile sector almost came to a standstill. In Hindu families, it is generally not considered good to buy a new car, house or jewelery during Pitru Paksha. However, the time of Navratri immediately after Pitru Paksha is considered one of the best times for purchasing vehicles. This is why companies in the automobile sector have high expectations from the month of October.
Experts of the automobile market say that due to the beginning of Navratri from October 3, there will be an increase in the purchase of vehicles, due to the beginning of Deepotsav at the end of October, the demand for new vehicles in the market will also increase. Dhanteras can be celebrated on 29th or 30th October this month. Similarly, Diwali can be celebrated on 31 October or 1 November. There is usually a surge in vehicle purchases on Dhanteras and Diwali days. It is clear that this year most of the purchases for the festive season will be made in the month of October only.
However, some experts believe that the automobile sector may face disappointment in October also. Automobile market expert Dhirendra Kumar Duggal says that if we look at the consumption figures, people's interest towards premium categories like consumer goods and vehicles has decreased in the last two years. Therefore, the demand for passenger vehicles or two wheelers in urban areas is not expected to increase much. Although demand in rural areas can be expected to increase due to good monsoon rains, the impact of floods in some states can also affect the sales of automobile companies.