Companies that manufacture cars, appliances, and consumer items see strong double-digit increase on Dhanteras

 Companies that manufacture cars, appliances, and consumer items see strong double-digit increase on Dhanteras

When compared to the same time last year, the manufacturers have recorded a significant double-digit gain in pre-Diwali Dhanteras sales, driven by more alluring incentives and plans.

Blockbuster sales during Dhanteras were recorded by automakers, consumer goods businesses, and appliance manufacturers on November 10. These companies anticipate that the pattern will continue for the following three days. When compared to the same time last year, the manufacturers have recorded a significant double-digit gain in pre-Diwali Dhanteras sales, driven by more alluring incentives and plans.

Maruti Suzuki Senior Executive Officer of marketing and advertising Shashank Srivastava predicts that the passenger car sector would record more than 21% of deliveries on Dhanteras. Hyundai Motor India Ltd. (HMIL), the nation's second-largest automaker, announced a two-fold increase in deliveries over the previous year.

Similar to this, top businesses like Godrej Appliances, Panasonic, and LG Electronics have all claimed a 15–25% increase in pre-Diwali Dhanteras sales. "We've observed quick delivery this Dhanteras. Industry deliveries are predicted to be between 55,000 and 57,000 automobiles from Dhanteras to Bhai Dooj, representing an increase of more than 21%, according to Srivastava.

During same time last year, the industry produced about 45,000 units. "HMIL exceeded last year's total by more than double, delivering an incredible 10,293 units on the auspicious day of Dhanteras. The tremendous appreciation our consumers have for the Hyundai brand is shown by these enormous numbers of deliveries, according to Tarun Garg, COO of the company.

According to industry group CAIT, commerce in cars, kitchen appliances, electronics, and cutlery increased today. The Confederation of All India Traders (CAIT) estimates that on November 10, commerce in the nation as a whole was valued at over Rs 50,000 crore, with Rs 5,000 crore occurring in Delhi alone.

Additionally, businesses in the consumer electronics and appliance industries are growing at a robust double-digit rate of 15–25%. "We are seeing 15% growth in all categories this Dhanteras, and there are good foot traffic in all cities," said Ashish Agrawal, Senior VP and Head of GTM at LG Electronics India.

In a similar vein, an official from Panasonic Life Solutions India said, "We are witnessing 10-12 per cent growth this year on Dhanteras compared to Dhanteras last year." According to Kamal Nandi, Executive Vice President as well as Business Head of Godrej Appliances, the sector is expected to expand by 20–25 percent (value) this year, driven mostly by a rise in demand for high-end items across all categories.

"This growth is largely led by the urban market," Nandi stated, while stating that one of the reasons was that, in contrast to previous year, Dussehra and Diwali fell in October and November this year. He did, however, express worry about the fact that this year's holiday season is not seeing a rise in sales of entry-level mass merchandise.

Regarding the Dhanrteas sales, Nandi said that there has been a surge of 10-15% in the sector and that this development is expected to continue on Friday. According to Eric Braganza, president of the Consumer Electronics and Appliance Manufacturers Association, the sector will increase by double digits over this holiday season.

"As the ongoing ICC World Cup coincides with the festive season, some products, like smart TVs, have really done well," he said. He also mentioned that other products, like refrigerators, washing machines, and air purifiers, are doing well this season in some parts of the nation. Braganza predicted strong development for the sector.

But, he said, "This year, festive sales are not confined to just one day… the marketplace is having good sales right from Navratra." Based on previous patterns, even FMCG firms like Bikano anticipate growth of more than 40%.

"This Diwali, we expect a 40 percent spike in sales," said Manish Aggarwal, Director of Bikano.