Navratri Car Sales Surge as GST 2.0 Enhances Affordability; Tata, Hyundai, CARS24
The Indian automobile sector experienced a remarkable surge in sales on the first day of Navratri 2025, with major players like Tata Motors and Hyundai Motor India reporting impressive figures. This boost in sales is attributed to the recent implementation of GST 2.0 reforms, which have lowered vehicle prices, coupled with strong festive demand. The new tax structure, introduced by Finance Minister Nirmala Sitharaman, aims to enhance consumer spending during the festive season by making a variety of goods, including cars, more affordable.
Tata Motors Achieves 10,000 Deliveries
Tata Motors reported a significant milestone, delivering 10,000 vehicles on the opening day of Navratri. The company also received over 25,000 inquiries, indicating a robust interest in its offerings. In a statement, Tata Motors attributed this success to the festive season’s commencement and the benefits arising from the GST 2.0 rate cuts. The company expressed optimism about maintaining this momentum throughout the festive period, highlighting the positive impact of the new tax reforms on consumer behavior.
Hyundai Records Highest Sales in Five Years
Hyundai Motor India Limited (HMIL) also celebrated a record-breaking day, achieving approximately 11,000 dealer billings on the first day of Navratri. This figure marks the company’s highest single-day sales performance in the past five years. Tarun Garg, the whole-time director and COO of HMIL, noted that the auspicious start of Navratri, combined with the favorable conditions created by GST 2.0 reforms, has generated significant enthusiasm in the market. The strong sales figures reflect a renewed consumer confidence and demand for Hyundai vehicles.
CARS24 Experiences 400% Surge in Deliveries
The pre-owned car market saw a dramatic increase in activity, with CARS24 reporting a staggering 400% rise in car deliveries by 2:00 PM on the first day compared to daily averages. The platform also conducted over 5,000 inspections, marking the highest activity level in four years. CARS24 highlighted that while GST 2.0 primarily targets new vehicles, it has positively influenced the used car market by reducing overall ownership costs. This surge in demand underscores the growing interest in pre-owned vehicles during the festive season.
Impact of GST 2.0 on Auto Stocks
The favorable conditions created by the GST 2.0 reforms have also positively impacted the stock market, with shares of leading automakers experiencing significant gains. Hyundai Motor India saw an increase of 4.69%, while Maruti Suzuki rose by 3.24%. Other companies, including Mahindra & Mahindra, TVS Motor Company, Bajaj Auto, and Tata Motors, also reported notable stock price increases. Maruti even reached its 52-week high during early trading. The BSE auto index rose by 0.98%, reflecting the overall positive sentiment in the automotive sector as the festive season unfolds.
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