India's Leading Automobile News Source | Comprehensive | Independent
Welcome [ Guest ] Search Here On WheelsUnplugged.com
Issuers of news releases and other information including pictures and audio/video files are solely responsible for the accuracy and legality of the contents. Terms and conditions including restrictions on redistribution applyCopyright © 2008 Red Tree Convergent Media Private Limited. All rights reserved
WebSite best viewed in Internet Explorer 6 or newer versions @ Resolution 1024x768
Car sales fail to lift the Diwali festival spirits

As expected, this Diwali did not bring much cheer to the Indian automobile companies. Blame it on the low consumer confidence stemming from economic uncertainties and the stringent financing of vehicles. Diwali (or Deepavali), or the 'Festival of Lights', is a prominent Hindu festival, where the lights or lamps signify victory of good over the evil within an individual and is celebrated on the new moon day. A lot of automobile companies had kept their fingers crossed on the Diwali week, but all their hopes were crushed, as the number of footfalls dwindled, and those having test drives postponing indefinitely their purchase plans. Though Hyundai Motors, Hero Honda and Maruti Suzuki, bucked the trend, their sales were below their expectations. Other automakers like Tata Motors, GM, Ford and Bajaj Auto are emerging as the biggest losers.

Discount offers, attractive finance options, free insurance and registration, gifts etc failed to entice the customers as the unchanged interest rate cut played spoilsport. The only cars which maintained their sales momentum include recently launched Toyota Corolla Altis, all-new third generation Honda City and Hyundai's premium hatchback-i10. It is widely believed that the automotive sales this year for the industry will be higher than the overall numbers registered last year, but this is likely to be lower than the projected numbers.

According to a dealer of a multinational automobile company, consumer demand is still very high, but sales have been abysmal, so the number of cars delivered would be less vis-à-vis last year.Another dealer of a multinational auto giant acknowledged the fact that people are postponing their purchase plans as they are panicked about the incessant job cuts in their companies.

According to a senior official of Hyundai India, it would take about four-five months for the auto sales numbers to get into a much faster growth pace. He also stated that after October and November, the sales volumes are likely to come down in December as people wait for New Year.According to a Honda Siel dealer, the cumulative impact of higher interest rates, subdued market sentiment and cautious approach of buyers are among key reasons for this current sentiment. The automotive industry had anticipated overall growth of about 12 per cent during 2008 and first nine months numbers shows that it is likely to be about 6-6.5 per cent.

Comments By The Readers

No Comments Yet ! Be The First To Comment
Editorial Desk       Posted on 10/31/2008 5:01:32 AM
   Automobile News : India EmailWrite Comment on this news SocialTwist Tell-a-Friend
  RESOURCE SECTION

>Links

>Picture Gallery

>Video Gallery

  ADVERT LINKS

Tesco Compare car insurance

Breakdown Cover from The AA

To Advertise Here click

  Latest Auto Industry News

Porsche keen to introduce 911 series in India during 2010

M&M BAE Systems JV announces top execs names with change in company name

Toyota Kirsloskar to kick off Etios production in December 2010

Nissan kicks off Indian 'Gran Tour De Nissan 370Z' from Mumbai

Renault India to roll out its own distribution network

Toyota gets 54 bookings for Prius hybrid out of 200 marked for 2010

Car sales up by 32.28 per cent, bike sales up by 43.69 per cent during January

Bosch Chassis Systems India inaugurates technical centre & ABS facility

Force India unveils 2010 Formula one car VJM03

Read More Auto News>>>
  Interviews

Honda Siel to consolidate its position in 2009 with Honda Jazz

It’s GMnext now! Low-emission models is priority

Follow the Delhi model

XYLO zings M&M’s business

Ford India now has changed

Read More Interviews>>>
  User Interviews

Mercedes C-Class : Shoddy service standards in Delhi

VW Jetta : Service centres should know how to handle us

Reva-i:Need a different mind-set to own one

Hyundai Verna : Good value for money

Honda CR-V: Understated but obscenely expensive spares

Read More User Interviews>>>
  New Launch News

Nissan launches iconic sports car 370Z coupe

GM India launches Chevrolet Beat

Mercedes Benz launches S 500L and GL 350CDI

Honda 110cc CB Twister bike launched

Volkswagen launches New Beetle in India

Rolls Royce Ghost debuts in India

Royal Enfield launches powerful bike-Classic 500

Read More New Launch News>>>
  Test Drives

Mercedes E350 : A bundle of joy

Tata's Manly Manza

Hyundai's new all-rounder diesel i20

Skoda's new Laura

Fiat Grande Punto : A Showstopper

Jazzing it up in Goa

Superb, Superb, simply Superb!

Luxury on Steroids

Read More Test Drives>>>
  Sell n Purchase Toyota

Toyota corolla feb 2006

Identity : Owner
Asking Price : 550000


Maruti

Maruti Suzuki Swift VDI 2008

Identity : Owner
Asking Price : 430000


Honda

Honda Civic2007 sports

Identity : Owner
Asking Price : Negotiable


See More Vehicles>>> Want to sell/purchase Vehicles
Register here for free>>>