Sales of automobiles and consumer electronics increased after sluggish demand so far this year due to the discounts and promotional offers for the occasions of the ongoing Ganesh Chaturthi and Onam festivals, the Economic Times reported, adding that the premium segments continued to drive most of the demand.
Electronics, smartphones and automobiles usually see up to 30% of their annual sales coming from Onam, Navratri, Dussehra and Diwali, the report read.
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How much did auto sales increase because of the festive season?
Maruti Suzuki reported a 10% increase in bookings in Kerala ahead of Onam and deliveries in Maharashtra and Karnataka rose at the same pace on the first day of Ganesh Chaturthi, according to the report.
Meanwhile, two-wheeler sales grew at 15-16% during Onam.
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This is also because of the pent-up demand due to weak sales in the first five months due to elections and weather disruptions, the report quoted Federation of Automobile Dealers Associations (FADA) president C S Vigneshwar as saying.
The auto industry volumes are expected to increase by about 15% over the average monthly sales of 330,000 units seen in the first five months of the fiscal year, the report read.
How much did consumer electronics sales increase because of the festive season?
Consumer electronics sales rose 7-8% compared to last year, according to the report.
Frost-free refrigerator sales grew 15% during Onam, while entry level single-door refrigerators sales declined by 6-7%.
Fully automatic washing machine sales went up 12-13% while semi-automatic ones saw a more marginal growth of 4-5%.
Apple’s new iPhone 16 series saw better demand compared to last year with bookings having opened on Friday, September 13, 2024.
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