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Happy Diwali, buy buy

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  • Automobiles: Despite the prevailing slowdown in auto sales beginning this fiscal, the festival season has brought much-needed cheer. Heavy discounts have lifted the spirits of the auto industry with car and bike sales staying firm in October. While four-wheeler manufacturers such as Maruti, General Motors and Mahindra & Mahindra continued their strong showing, October brought a respite for bike major Bajaj Auto that managed to beat the steep declines plaguing its sales for months. New model launches and heavy discounts by companies like Maruti, GM and Mahindra, helped companies realise high sales in the month, which also marked the start of the festive season from October 12.

    Food and beverages: The festival season marks the second spell for the cola industry, which gathers around 25 per cent of its sales from this season alone. According to cola industry estimates, this season brings a spurt in growth due to family get-togethers and large gatherings that push up consumer spending. Also, this season registers a higher growth of the larger bottles, since bulk purchase is dominant in this season. The first spell for the cola industry is the summer season, of course, which industry analysts say accounts for the highest revenues for the companies, a staggering 55 per cent.

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    Utensils: This product may seem dull compared to the other products mentioned above but sales are brisk during Diwali with utensils worth over Rs 600 crore sold during the period. Majority of the utensils during the season, are sold in the categories of cooking and serving as compared to storage and washing. Of the 100,000 tonnes of appliances sold over the year, about 50 per cent are sold during a three-month period starting September, says N.C. Mathur, president Indian Stainless Steel Development Association.

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