Why Are Automakers Experiencing a Spike in Vehicle Sales on Dhanteras?
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Synopsis
Discover the remarkable surge in vehicle sales during Dhanteras as automakers report significant increases in demand ahead of Diwali. With a projected 14,000 units to be delivered, the festive spirit, GST reforms, and a thriving market are driving this trend. Explore the implications of this boom on the automotive industry and the festive shopping landscape.
Key Takeaways
- Vehicle purchases surged during Dhanteras due to the festive spirit.
- Hyundai anticipates a 20% increase in deliveries compared to last year.
- Total trade during Dhanteras is expected to surpass Rs 1 lakh crore.
- Gold and silver sales accounted for over Rs 60,000 crore.
- Significant increases in precious metal prices have been observed.
New Delhi, Oct 18 (NationPress) Vehicle purchases significantly increased on Saturday as individuals celebrated Dhanteras with great enthusiasm in anticipation of Diwali. This year, Dhanteras deliveries are being carried out over several days due to the day falling on a Saturday.
“We’re observing robust customer interest, with projections of nearly 14,000 vehicle deliveries — about 20% more than the previous year,” stated Tarun Garg, Whole-time Director and COO of Hyundai Motor India Limited (HMIL), regarding Dhanteras deliveries.
“This positive trend is fueled by the festive atmosphere, a thriving market, and the favorable effects of GST 2.0 reforms,” he added.
In a recent development, HMIL announced Garg's promotion to MD and CEO, effective January 1, 2026, making him the first Indian to head Hyundai Motor India since its inception in 1996.
Additionally, substantial shopping activity was observed across India on Dhanteras, with total trade estimated to surpass Rs 1 lakh crore, marking one of the most robust festive seasons in recent times.
Sales of gold and silver alone accounted for upwards of Rs 60,000 crore, while markets in Delhi recorded transactions exceeding Rs 10,000 crore due to a surge in demand for local products.
Praveen Khandelwal, National General Secretary of the Confederation of All India Traders (CAIT) and MP from Chandni Chowk, noted that Dhanteras commemorates the appearance of Lord Dhanvantari with a pot of nectar during the ocean churning, symbolizing health and prosperity.
“The nationwide trade in gold, silver, and other Dhanteras-related items is estimated at Rs 1 lakh crore,” Khandelwal mentioned.
Last Diwali, the price of gold was approximately Rs 80,000 per 10 grams, which has now surged to over Rs 1,30,000 — a nearly 60% increase. Silver prices have also escalated from Rs 98,000 per kilogram in 2024 to more than Rs 1,80,000, marking a rise of about 55%.
Point of View
It's evident that the automotive industry's growth during festive seasons like Dhanteras reflects broader economic trends. The enthusiasm surrounding vehicle purchases underscores consumer confidence and the effective implementation of GST reforms. This aligns with our commitment to report on significant economic movements that affect the nation.
NationPress
18/10/2025
Frequently Asked Questions
What caused the increase in vehicle sales during Dhanteras?
The increase in vehicle sales during Dhanteras can be attributed to the festive spirit, strong consumer demand, and the positive impact of GST reforms.
How much is the total trade estimated to be during Dhanteras?
The total trade during Dhanteras is estimated to exceed Rs 1 lakh crore, showcasing the vibrant shopping activity across the country.
What are the current gold and silver prices compared to last year?
Gold prices have surged from approximately Rs 80,000 per 10 grams last Diwali to over Rs 1,30,000 this year. Silver prices also increased from Rs 98,000 per kilogram to more than Rs 1,80,000.
