Key Points
NEW DELHI: Powered by SUVs, the Indian car industry hit jackpot sales revenue of Rs 1.3 lakh crore in the festive period between Onam and Bhai Dooj as companies retailed a record 11.4 lakh vehicles, or an average of little less than 13,000 units per day, as the industry's production normalised after the Covid shortages and consumer demand continued to remain strong...
The numbers, which are in line with the healthy trends witnessed through most of the last two years, show that consumers still have an appetite for new, feature-loaded cars as average price per unit stood at nearly Rs 11.5 lakh, against Rs 10.5 lakh last year, industry officials told TOI...
The record numbers were also enabled by better production as supply woes eased and demand continued to remain strong," Shashank Srivastava, director (marketing & sales) at Maruti Suzuki said.. Srivastava said with SUVs powering a large number of sales, the average per car realisation for the industry also saw significant growth..
The car industry, while witnessing a strong demand curve after Covid curbs started getting lifted from late 2021, had been hit hard by supply constraints due to shortages of semiconductors, restrictions on certain supplies from China, and the war in Ukraine..
will end the year at around 8.5-9% growth, with a strong contribution of about 60% from SUVs," Tarun Garg, COO at Hyundai India said.. Delhi on Diwali high, breaks all previous records of liquor consumption..
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