Dhanteras: Record booking of passenger vehicles, retail business may cross 1.50 lakh crore

Dhanteras: Record booking of passenger vehicles, retail business may cross 1.50 lakh crore

This year’s Dhanteras is going to be special in terms of business. After living in the shadow of Corona for two years, this time people are celebrating the festival openly. Its effect is also visible on the purchase of Dhanteras and Diwali. For Dhanteras, where there has been a record booking of passenger vehicles, on the other hand the retail business can also cross 1.50 lakh crores.

Federation of Automobile Dealers Association (FADA) President Manish Raj Singhania said that this Dhanteras is going to be great for the automobile industry. Record booking of passenger vehicles has been done for this Dhanteras. Mahindra’s Scorpio N and recently launched Maruti’s Grand Vitara have more than one lakh bookings. The special thing is that the booking of passenger vehicles in the current festive season along with the current financial year can reach this decade’s high.

Confederation of All India Traders (CAT) National General Secretary Praveen Khandelwal said that the markets decorated for Dhanteras-Diwali are showing more crowd than expected. In the festive season starting from 26 September till 5 November, retail markets across the country may see sales of Rs 1.50 lakh crore more, which is 60,000 crore more than the pre-corona level i.e. 2019. During that time 90,000 crores were sold in the retail markets. Last year the sales figure in the festive season stood at 1.25 lakh crore.

  • After living in the shadow of Corona for two years, this time people are spending freely in festivals
  • There was a retail sale of 1.25 lakh crores last year

Rai’s claim: Online has no effect on the retail market

Retailers Association of India (RAI) CEO Kumar Rajagopalan says there is no impact of online sales in retail markets during festivals as offline shopkeepers are also now doing home delivery of goods. He said that this time people want to spend freely as compared to the last two years. Therefore, this Dhanteras-Diwali retail business is expected to increase by 25 percent as compared to 2019 and 2020.

Huge crowd in clothing stores

  • Apart from gold and silver, on this Dhanteras, people are also fiercely buying home appliances and clothes. Looking at the crowd of people in the shops, it is expected that this time there will be a growth of up to 25 percent in the sale of clothes.
  • The business of utensils is expected to remain subdued as people have started buying utensils throughout the year like home appliances.

People boycotting Chinese goods
BC Bhartia, National President of CAIT, says that Prime Minister Narendra Modi’s Vocal of Local and Self-reliant India campaign has had a great impact on consumers. Despite being cheaper, consumers are now demanding Indian products instead of Chinese goods.

  • Indian businessmen did not import any items related to Dhanteras-Diwali from China this year. Due to this move of Indians, China has lost Rs 75,000 crore in the festive season.
  • China has lost Rs 75,000 crore
  • Vocal of local and self-reliant India campaign

Vehicle booking may reach decade high during festivals

Attraction of SUVs: This festive season, SUVs (Sports Utility Vehicles) remain the attraction of passenger vehicles. SUVs account for 90% of the passenger vehicles launched in the last six months. The reason for this is comfort and security.

Booking by speed of delivery
Vehicle sales are going to be 40-50 percent higher on Dhanteras. The special thing is that the faster the vehicles are being delivered, the faster bookings are also being received. Due to the boom in bookings, the waiting period for many models of cars has gone from 3 months to two years. -Manish Raj Singhania, President FADA

Corona two-wheeler sales may reach beyond pre-level

The sale of two wheelers can also reach beyond the pre-corona level this Dhanteras. FADA says that if we look at the figures for the last two months, there has been an increase in the sales of two wheelers on a year-on-year basis. It has increased during festivals. On the basis of Dhanteras sale, the sale of two wheelers can reach beyond the pre-corona level.

Gold cheaper by Rs 372, silver by Rs 799
On Friday, gold was cheaper by Rs 372 to Rs 50,139 per 10 grams in the Delhi bullion market. Gold prices fell in the domestic market due to the fall in the prices of the precious metals in the global markets. Silver also became cheaper by Rs 799 to Rs 56,089 per kg. In the last trading session, gold had closed at Rs 50,511 per 10 grams.

Dilip Parmar, Research Analyst, HDFC Securities said, “With the strengthening of the dollar, spot gold in COMEX (commodity market) is going down for the second consecutive week. The yellow metal has touched its lowest level since April 2020.

  • In the international market, gold was trading lower at $ 1,621.25 an ounce. Silver was also trading with a softer trend at $ 18.41 an ounce.

Bumper business expected in these areas too
Rai says that apart from gold and silver and clothing, a bumper business is also expected in the field of gifts, home furnishings, home appliances, earthen lamps, decor items, decorative items made by craftsmen and local artists, cosmetics.

  • Kumar Rajagopalan said that this time the business of sweets is also expected to be better. During the last two years due to Corona, due to the fear of people, there has been less interaction on festivals. But, this time there is no restriction related to Kovid. Therefore, for the last two days, crowds are also being seen at the sweet shops.