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Festive booster for car industry, sales up by 9%

NEW DELHI: Car makers padded up for the festive season as wholesale deliveries to dealerships saw a growth of 9%, this being the eleventh consecutive month of growth.

With the festive season beginning from October 13, companies have been stocking up dealerships with new vehicles in view of higher demand. RBI’s recent cut in interest rates is also expected to be a booster for the demand.

Sales in September (as measured by wholesale deliveries) stood at 1.7 lakh units against 1.5 lakh units in September last year, according to numbers released by Society of Indian Automobile Manufacturers (Siam).

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