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News Topical, Digital Desk : Maruti Suzuki and Hyundai Motor India reported a significant increase in vehicle enquiries and deliveries on the first day of Navratri. Recent tax cuts under the government's "GST 2.0" reforms have boosted demand for passenger vehicles ahead of the festive season. Maruti Suzuki reported receiving around 80,000 enquiries and delivering 30,000 vehicles on Sunday, marking the strongest start to Navratri in the last three decades.
Since the announcement of additional price cuts on September 18, the company has received 75,000 bookings, with around 15,000 bookings per day. This is 50% more than normal, and small cars have seen the highest demand.
Demand is so high that stocks may run out
Maruti Suzuki said that there has been a huge inquiries ahead of the festive season, and the company has kept its dealer stores open till late night for deliveries. The company said, "Inquiries are very high, and stocks may run out for some variants."
Hyundai Motor India's record sales Hyundai Motor India also recorded its highest single-day dealer billing in five years, which was around 11,000 vehicles. "This is a clear testimony to the strong festive spirit and customer confidence," said Tarun Garg, Whole-time Director and COO of Hyundai Motor India. He added that Hyundai was one of the first companies to pass on the full benefits of GST to customers. Garg said, "As one of the first automobile companies to fully pass on the GST benefits to customers, we are excited to bring more joy to our customers' festivities. We expect the festive demand to continue and are committed to providing value and excitement to our customers."
Impact of GST 2.0 Under GST 2.0, which came into effect from September 22, the tax on small and mid-sized cars has been reduced to 18%. However, the higher rate of 40% on SUVs and luxury vehicles remains. Maruti Suzuki, Tata Motors, Tech Mahindra and Hyundai have announced price cuts to pass on the benefits to customers and boost sales during the festive season.
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