Carmakers expect jump in sales

The festive period is marked by new launches, aggressive pricing, discounts and stable loan interest – all contributing to the revival of consumer interest and sentiment. Top car manufacturers such as Maruti Suzuki, Hyundai Motor, Honda Siel and Toyota Kirloskar say they expect 15%-20% increase in sales during the festival season. All the new launches including the new Maruti Swift, Honda Brio, M&M XUV500, Toyota Etios diesel and Hyundai Verna now enjoy long waiting period of up to eight months for delivery. Car sales in the country had slipped year-on-year for two consecutive months before showing slight increase in September. But overall, car sales have been dismal so far this fiscal after rising 30% last year, owing to higher fuel costs, lending rates and overall inflation which greatly impacted consumer demand. Retailers too reported 50% jump in sales last weekend, the first one after shradh.Mr. Arvind Saxena, Hyundai Motor India Director - Marketing and Sales said, “Festive months could spell much improvements for the ind ustry.”