On the first day of the GST rate cut, there was a strong increase in the car cell.
GST Rate Cut came into effect from Monday. This decision started showing its magic from day one. Due to which, there was a new life in the faded auto sector. Record sales of vehicles were seen on the very first day after the GST reform was implemented. Whether it is the sale of new trains or the old trains. After the rate was cut, the fond showrooms of small vehicles appeared in the showroom. Many companies said that they did not see such response for vehicles in the last several years. In such a situation, you can understand that the GST reform has done some work like a Sanjeevani for this sector. After the GST rate cut, the price of many company trains has seen a decline of more than one lakh rupees. Let us also tell you what kind of response has been seen in the auto sector on the day of this decision.
Maruti made a record
With the implementation of GST Rate Cut from Monday, there was a huge crowd of buyers in the vehicle showroom across the country in view of the fall in the prices of cars. With the implementation of the new GST rules, the first day of Navratri was also seen for the purchase of vehicle. The situation became such that vehicle manufacturers Maruti Suzuki and Hundai Motor India set a new record of one day sales in the last several years. The country’s largest passenger auto company Maruti Suzuki India said that its retail cell crossed 25,000 units on Monday evening and it is expected to exceed 30,000 vehicles by the end of the day. Partho Banerjee, Senior Executive Officer (Sales and Marketing) of the company said that about 80,000 customers were seen at the company’s dealership. Booking of small car models saw an increase of 50 percent while some models are likely to end stock.
Hundai Motors’ sales increase in sales
Hundai Motor India COO Tarun Garg said that about 11,000 vehicles were sold on the first day, which is the best sales figure of the company in the last five years. He said that due to the inauguration of Navratri and GST reform, positive energy has been seen in the market. GST on small cars has been reduced from 28 percent to 18 percent. This amendment has led to an estimated decline of cars up to 1200 cc with petrol, diesel, hybrid, CNG and LPG engines from Rs 40,000 to Rs 1.2 lakh.
Reform will be a boon for auto sector
CS Vigneshwar, president of the national organization Fada, the national organization of the vehicle distributor, said that for the last three-four weeks, the interrogation of the customers was watching continuously and there was a tremendous trend in sales on the first day of Navratri. Vigneshwar said that many customers are planning to buy high end cars after the price cuts. On tax revision, Vigveshwar said that this reform will prove to be beneficial for the industry not only for this festive season, but in many years to come. Fada Chairman said that we are very grateful that the government has reduced these rates. We too, like other industries, have been requesting to reduce these rates. And finally, I think it has happened. At the same time, he did not explain any estimate about the sale of the first day of Navratri.
Second car sale increases by 400 percent
If it comes to the online platform Cars 24, related to the second hand vehicle business, said that till noon on the first day of Navratri, there was a record increase of 400 percent in his car delivery. Delhi-NCR region had the highest number of sales after which Ahmedabad, Bengaluru, Pune and Mumbai were ranked. Rajesh Menon, general secretary of SIAM, an organization of vehicle manufacturing companies, said that the GST rate deduction will increase enthusiasm among consumers and the Indian vehicle sector will get a new pace. Meanwhile, Honda Cars India said that the prices of various models have been made attractive till December with GST benefits and strategic pricing.