India’s automobile market turned up the heat this Saturday as shoppers capitalised on Dhanteras, the first day of the Diwali festival. New cars were sold in record numbers, with dealers expecting about 14,000 vehicles to leave showrooms – a jump of roughly 20 percent over last year’s sales.
“Customers are eager, and weekly deliveries are higher because Dhanteras is on a Saturday,” said Tarun Garg, the new Managing Director and CEO of Hyundai Motor India. He added that the festive mood, a thriving market and recent GST 2.0 rules are all helping sales.
Garg’s appointment marks a historic moment: he will be the first Indian to helm Hyundai Motor India, which started operations in 1996.
Dhanteras is a shopping super‑day. Across the country, trade activities – from new‑car sales to jewelry and household goods – exceeded ₹1 lakh crore, one of the strongest festive seasons in years. Gold and silver alone pulled in over ₹60 000 crore. Delhi’s markets alone saw transactions over ₹10 000 crore, driven by a rising appetite for locally made products.
Praveen Khandelwal, a member of parliament and national general secretary of the Confederation of All India Traders, noted that Dhanteras celebrates the mythic arrival of Lord Dhanvantari with nectar, symbolising health and prosperity. He echoed the report that gold, silver and other Dhanteras‑related items were worth about ₹1 lakh crore in total trade.
Gold prices surged during the holidays. The last Diwali saw 10‑gram gold at around ₹80,000, while this year it jumped to over ₹1,30,000 – a rise of almost 60 percent. Silver also climbed sharply, from ₹98,000 per kilogram in 2024 to more than ₹1,80,000, a 55 percent increase.
The festive boom underscores how Dhanteras morning shopping can drive retail and automotive sales, especially as the Indian market grows and reforms like GST 2.0 streamline purchasing.
Source: ianslive
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