New Delhi, 3 October (IANS). The new GST reforms of the central government reduced tax rates and products for customers have become cheaper than before, which has recorded the highest Navratri sales of consumer goods in the country’s economy in the last decade.
According to data, these measures not only reduced prices, but also increased customers’ wishes, helping families upgrade vehicles, buying home appliances and spending more on lifestyle products. Overall, the enthusiasm of festivals turned into record-and-a-slod sales.
The sales of leading car manufacturer Maruti Suzuki increased by 100 percent in Navratri, doubled compared to the previous year. Maruti Suzuki made 1,50,000 bookings and the figure is expected to reach 2,00,000 bookings. While the company sold 85,000 vehicles in the last Navratri.
The automobile market leader delivered 1.65 lakh vehicles in the first 8 days of Navratri. On the first day of Navratri, Maruti delivered a record 30,000 cars, the company’s best one day performance in 35 years.
The country’s leading auto company Mahindra & Mahindra registered a 60 percent sales increase on an annual basis.
According to data, the demand for models such as Creta and Venue in Hyundai increased the total sales of SUVs exceeding 72 percent.
Tata Motors sold more than 50,000 vehicles during festivals with demands from Ultrose, Panch, Nexon and Tiago models.
The sale of two-wheeler manufacturer Hero MotoCorp doubled in Navratri, while rival Bajaj Auto also recorded good sales during Navratri.
LG, Higher and Godrej Appliances in the Consumer Electronics sector recorded a double digits increase in this Navratri compared to the previous year.
Higher sales increased by 85 percent and the company sells 85-inch and 100-inch Diwali stocks worth more than Rs 2.5 lakh.
The company sold 300-350 units of 65 inch TVs every day during this period. LG Electronics India recorded a great increase in sales in this Navratri.
The government created an atmosphere of confidence among the people by reducing the tax burden on both the necessary and luxury items by making GST slab a rationalize.
As a result, brands and retailers gave information about sales increase from 25 percent to 100 percent, which is a major help for India’s consumption economy.
The first part of the festive season with Onam, Durga Puja and Dussehra was 40–45 percent of the total festivals, which makes it the country’s largest consumption season.
-IANS
SKT/