Car, bikes & electronics sales surge due to heavy discounts by companies: Reports

New Delhi: After sluggish sales in the first five months of this fiscal, automobiles and consumer electronics companies saw some surge in demand due to discounts and promotional offers during the ongoing Ganesh Chaturthi and Onam festivals, multiple reports said.

“In view of festivals like Onam, Navratri, Diwali, and Dussehra, electronics, automobile and smartphone companies are offering discounts of up to 30 percent to customers,” the reports stated.

Maruti Suzuki reported a 10 per cent increase in bookings in Kerala before Onam and deliveries in Maharashtra and Karnataka rose similarly on the first day of Ganesh Chaturthi.

Two-wheeler sales surged by 15 to 16 per cent during Onam.During the festive season, vehicle sales may increase by 15 per cent from the average of 3,30,000 units in the first five months of the current financial year. Sales of consumer electronics may see an increase of 7 to 8 per cent compared to last year. Sales of frost-free refrigerators increased by 15 per cent during Onam. However, sales of single-door refrigerators have declined by 6 to 7 per cent.Sales of fully automatic washing machines have increased by 12 to 13 per cent, while those of semi-automatic washing machines have increased by 4 to 5 per cent. Earlier a report said that the upcoming festive season in India is likely to see the creation of up to 10 lakh jobs with a notable surge in gig and female workforce participation.

Many industries are gearing up for a rise in hiring, including retail, hotel, e-commerce, logistics, consumer goods, banking, financial services, insurance (BFSI), and retail, according to NLB Services, a technology and digital talent solutions provider. Among these industries, e-commerce will see the highest demand with a 22 per cent increase over last year.