NEW DELHI: This Dhanteras, festive spirits were out in full colour with dealers enjoying heavy footfalls and purchases across segments -gold, cars and consumer durables.
Most of the companies have made special arrangements at showrooms including food counters, sales staff in ethnic wear and pandits to perform on-the-spot puja. Demand is likely to remain strong even post Diwali with marriage season settiing in, top officials from companies such as Maruti Suzuki, Hyundai, LG and gold retailer Gold Souk, told TOI.
Pay commission bonanza to government employees, a healthy monsoon, and softer interest rates have boosted the demand. Festive discounts and other offers such as zero-interest financing have added to the boom.
Softening of prices has led to higher purchase of gold, retailers said. “Gold was at around Rs 32,000 per 10gm about two months back, which is now down to Rs 30,000. We have seen a near 15% growth in buying this Dhanteras,” said Rahul Gupta, MD of PP Jewellers and Diamonds. Brisk buying was taking place in case of gold and silver coins, Lakshmi-Ganesh idols and sovereign gold bonds.
Conversion rate (to sales) was as high as 90-95% on Dhanteras, said Ashish Gupta, vice-chairman of Gold Souk Group.”People have even started buying for the wedding season in view of the stable price.”
Deliveries on this Dhanteras were higher by about 20% compared to last year, said R S Kalsi, director (sales & marketing) at Maruti Suzuki. “We expect retail deliveries at around 30,000 units this Dhanteras (till closure).” Kalsi said most of the formalities regarding payments and fitment of accessories have been done before to make the buying experience seamless.
Demand has been strong across key regions such as north, west and eastern parts of the country, Rakesh Srivastava, senior VP (sales & marketing) at Hyundai India, said. “Hyundai is expecting a bumper retail on Dhanteras with 15,200 deliveries -a growth of 26% against the same day last year.”
Heavy buying has been seen in metros such as Delhi and Mumbai, apart from states such as Gujarat, Maharashtra, UP, Orissa and West Bengal, Srivastava said. The spirit of this Dhanteras can be gauged by the fact that average daily retail offtake for Hyundai is around 1,600 units.
Sales have been heavy for premium products across TVs, washing machines and refrigerators, Sanjiv Aggarwal of LG India said. “LG’s OLED range of TVs, which cost between Rs 2.5 lakh and Rs 8 lakh, have seen good retail demand.Overall, LG India’s sales are up by 30-40% on Dhanteras and we expect to close the day with sales of Rs 250 crore.” Demand for Bravia TV range has been strong, said Satish Padmanabhan, Sony’s sales head.
CONTINUED FROM 1—-
Amrit is NOT external, it is produced inside your head…. All you need to know is how to produce it by your own mind….. 12 strand DNA which ancient Maharishis ha… Read MoreAjit Vadakayil
Panasonic said retail demand at Dhanteras is up 50% this year compared to the last year. “Good monsoon, robust harvest, seventh pay commission and RBI’s repo rate cut are adding to festivities. The timing cannot be better than this as it will certainly add to the festive fervour with lower interest rates, helping in increasing our rural consumption,” said Ajay Seth, head of sales & service, Panasonic India.
Rajeev Bhutani, VP at Samsung, said demand has been strong across geographies.