Car sales have been a bit weak this year, but the festive season has shown a ray of hope. The decision of car companies to increase stock before the festive season seems to be proving beneficial. By October 29, 2024, the number of passenger vehicle registrations has reached 4.25 lakh units. In such a situation, it is expected that on the occasion of Dhanteras and Diwali, this figure may cross the number of registrations of 4.5 lakh units.
According to vehicle data, till October 29, 2024, 4.25 lakh units were registered. Before this, the highest was Rs 3.99 lakh in January 2024. passenger vehicle The units were registered. In view of the festive season, car sales seem to be crossing more than 4.5 lakh units at the end of the month.
At present 14,732 registrations are being done daily. Car sales increase during the festive season. The arrival of Navratri, Dussehra, Dhanteras and Diwali increases the demand for cars. The festive season lasts for about two months, in which high demand is seen.
This current figure of 4.25 lakh units includes private cars and cabs listed on the Vahan portal. On an average, monthly vehicle registrations in 2024 have been around 3.33 lakh units.
This represents an increase of 5 per cent over last year's monthly average, and takes year-on-year registrations to 33 lakh units. Total car registrations reached 38 lakh units in 2023, of which the last two months contributed 6.5 lakh units.
According to Maruti Suzuki, festive sales volumes (from Shraddha to Diwali) increased by 14 percent year-on-year. Tata Motors has made 30 percent more registrations in October 2024 as compared to October 2023.
Interestingly, there was a spurt in registrations only in the last week, in which registrations increased by more than 1 lakh units. In the first three weeks, from October 3 to 24, passenger vehicle registration was only 2 per cent, with 3.07 lakh units registered.
