From Financialexpress · Gopika Nair · · 1m 30s
Navratri vehicle sales drop 9% as GST pent-up demand fades
Navratri vehicle sales fall 9% due to GST-driven pent-up demand from last year.
In brief
Navratri vehicle sales fall 9% due to GST-driven pent-up demand from last year. Navratri vehicle registrations dropped 9% for passenger vehicles as GST cuts last year created a high base effect, slowing festive demand. Originally reported by Financialexpress.
Navratri vehicle sales slow
Passenger vehicle registrations fell 9% to 243,022 units from 268,153 units a year ago during Navratri.
Two-wheelers and commercial vehicles grow
Two-wheelers rose 13% and cargo commercial vehicles grew 21% during Navratri.
GST base effect slows growth
High base effects from GST cuts last year and patchy rural demand reduced festive vehicle sales.
TVS and Honda gain two-wheeler share
TVS registrations rose 21% to 227,637 units, lifting its share to 19.7% from 18.4%.
Bajaj and Hero lose two-wheeler share
Bajaj’s share fell to 8.5% from 9.3%, while Hero’s slipped to 27.8% from 28.6%.
M&M gains passenger vehicle share
Mahindra & Mahindra saw registrations rise 9% to 30,533 units, increasing its share to 12.6% from 10.5%.
Rural demand slows due to weather
Rural demand has slowed on deficient rainfall and lower crop realisation in key states.
Electric vehicles grow strongly
Electric vehicles grew at a strong double-digit rate across segments despite supply constraints.
Nuvama expects slower H2 growth
Nuvama expects volume growth in the second half of FY27 to moderate for passenger vehicles and two-wheelers.
The one thing
Navratri vehicle registrations dropped 9% for passenger vehicles as GST cuts last year created a high base effect, slowing festive demand.
