GST Cuts Power India's Highest Navratri Sales In 10 Years In Auto, Appliances Sectors

From automobiles to electronics, all segments of the Indian consumer economy saw a sharp rise in their festive sales during the nine-day festival of Navratri, turning festive cheer into record-breaking consumption after recording the highest sales in over a decade, according to government sources.

The consumer sentiment is believed to be boosted by the incumbent government's NextGen GST reforms that reduced tax rates across categories and made products more accessible.

These measures not only induced price cuts but also unlocked consumer aspirations, enabling families to upgrade vehicles, invest in home appliances, and spend more freely on lifestyle goods.

Brands & retailers reported sales growth ranging from 25% to 100% while in consumer electronics space, LG, Haier, and Godrej Appliances reported high double-digit sales growth this Navratri compared to last year.

Haier's sales soared 85%, sales at Reliance Retail grew by 20-25% driven by large-screen TVs, smartphones, and fashion and those at Electronics retail chain Vijay Sales also saw a 20% year-on-year sales growth. LG Electronics India also noted "exponential growth" in sales this Navratri season.

Auto Sales

Major auto players such as Maruti Suzuki saw sales doubling from the year-ago period. Maruti reported 1,50,000 bookings and expects to reach 200,000 bookings. The company retailed 85,000 vehicles last Navratri, as per reports. On the first day of Navratri, Maruti delivered record 30,000 cars, its best single-day performance in 35 years.

Mahindra & Mahindra saw retails jump 60% year-on-year. At Hyundai, the surge in demand for models like Creta and Venue pushed SUVs' share of total sales to over 72%. Apart from this, showroom footfalls of two-wheeler maker Hero MotoCorp have doubled this Navratri with high traction in the commuter segment. Tata motors also retailed more than 50,000 vehicles during the festive period, with demand from Altroz, Punch, Nexon and Tiago models. Sales of Bajaj Auto also went up during Navratri.