Maruti Suzuki Navaratri Sales:
It's festival season with vibrant market buzz, further enlivened by the new GST structure implemented from September 22. Significant price cuts in vehicles have directly impacted car purchases, pushing Maruti Suzuki to the forefront. As GST duties were reduced, car prices dropped, and the company offered an irresistible deal that had people flocking to showrooms.
Since the onset of Navaratri, over 80,000 Maruti cars have been sold. Notably, nearly 80,000 inquiries are being made daily about new cars. The influx at showrooms is such that dealers deliver cars late into the night, sometimes until 11 PM or later. On the first day of GST application alone, Maruti Suzuki broke a 35-year record by delivering 25,000 cars in a single day.
Source: aajtak
Let's explore the company's masterstroke: an EMI starting at just 1,999 rupees. Essentially, the cost one would pay for a bike or scooter can now bring a car home. Maruti Suzuki cleverly understands the immense potential within India's two-wheeler market, simply needing a gentle nudge. This EMI magic provides just that push. Under this excellent EMI scheme, customers can purchase a car for a mere 1,999 rupees per month, making cars more affordable. Banerjee further highlighted,
"This move eases the transition from two-wheelers to four-wheelers."
The company has also addressed declining sales in the small car segment, attributing the drop to affordability challenges impacting consumers. Partho Banerjee explained that the decline in small car sales results primarily from affordability issues. He noted, "Recent repo rate cuts have helped make EMIs more affordable." He added that Maruti reduced prices for select entry-level models by up to 24%, effective until December 31, 2025.
With reduced repo rates, more affordable EMIs, and Maruti's reduction of entry-level car prices by up to 24% (effective until December 31, 2025), a golden opportunity for car buyers has emerged. While the popularity of small cars resurfaces, the demand for SUVs remains strong. Banerjee stated, "We're witnessing substantial growth in the SUV segment as well."
Source: aajtak
Despite increasing sales, the challenge now lies in the supply chain, which is under pressure. Addressing car supply, Banerjee mentioned that meeting the growing demand remains challenging. He revealed, "Dispatches were halted for the first 20 days of September, resuming only on September 22. Many vehicles are still in transit, and we're striving to deliver them as swiftly as possible."
With supply chains stabilizing, a Maruti executive advised early bookings to avoid long wait times. All in all, Maruti Suzuki seems poised to set new sales records this festive season. The trifecta of GST cuts, compelling EMI offers, and price reductions has effectively drawn customers to the showrooms.
