TL;DR
Indian automakers achieved record-breaking Dhanteras sales with over 1 lakh cars delivered in 24 hours, driven by festive demand and the positive effects of GST 2.0 reforms on vehicle prices.
The Indian automotive industry experienced an unprecedented sales boom this Dhanteras, with over 1 lakh cars delivered within a 24-hour period, marking one of the strongest single-day performances in years. This record-breaking retail momentum was significantly driven by the auspicious festive sentiment, extended 'mahurats' (auspicious timings) spread over two days, and the positive impact of the GST 2.0 reforms.
Major automakers reported robust demand, with Maruti Suzuki India anticipating its highest-ever Dhanteras sales, projecting around 51,000 vehicle deliveries, a substantial increase from last year's 41,500 units. Tata Motors Passenger Vehicles also saw strong traction, expecting to deliver over 25,000 vehicles during the Dhanteras-Diwali period, representing a 30% growth. Hyundai Motor India reported a 20% increase in deliveries with approximately 14,000 units.
The recent GST rate reductions played a crucial role, making certain categories of two and four-wheelers more affordable and significantly boosting consumer buying sentiment. This policy tailwind, combined with attractive festive offers from manufacturers and financiers, spurred many consumers to finalize their purchases, reaffirming the industry's strong revival.