Automobile and electronics sales go up by festival discounts: report

New Delhi: Following sluggish sales in the first five months of this fiscal year, automobile and consumer electronics companies experienced some surge in demand driven by discounts and promotional offers during the ongoing Ganesh Chaturthi and Onam festivals.

"In view of festivals like Onam, Navratri, Diwali, and Dussehra, electronics, automobile and smartphone companies are offering discounts of up to 30% to customers," said the report.

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

Two-wheeler sales surged by 15 to 16% during Onam. During the festive season, vehicle sales may increase by 15% 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% compared to last year. Sales of frost-free refrigerators increased by 15% during Onam.

However, sales of single-door refrigerators have declined by 6 to 7%.

Sales of fully automatic machines have increased by 12 to 13%, while those of semi-automatic machines have increased by 4 to 5%.

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% increase over last year.

Source: IANS