NOIDA: The sale of vehicles – two and four-wheelers as well as luxury cars – brought smiles to dealers this this Diwali week, registering a big jump compared to the same priod last year. Transport department. data shows from October 22-23, 107 luxury cars, 929 four-wheelers and 2,523 two-wheelers were sold this year. In the 2021 Diwali week, 44 luxury cars, 697 four-wheelers and 1,326 two-wheelers were sold. Siyaram Verma, assistant regional transport officer, Gautam Budh Nagar, attributed this to the improved financial condition of people after two years of the Covid waves. “People have started buying vehicles, including luxury vehicles, again,” he said. At 3,559, Noida also recorded the highest sales of vehicles this Diwali compared to the last five years. This number was 2,067, 1,795, 2,484, and 1,465 in 2021, 2020, 2019 and 2018, respectively. Data from the previous years show that 70 two-wheelers and 1725 four-wheelers were sold in 2020; 1609 two-wheelers and 875 four-wheelers in 2019; and 978 two-wheelers and 487 four-wheelers in 2018. A separate set of data on the sale of luxury vehicles is not available from these three years. In total, 2018 saw registrations of 88,301 new vehicles, whereas 2019 saw 92,242 registrations. This number dropped to 65,658 in 2020 before going up to 77,843 in 2021. This year, so far, 80,000 new vehicles have got registered, with two months remaining for 2022 to end and another three months before the financial year closes. The transport department earned nearly Rs 550 crore during the last financial year and may earn Rs 700 crore by March 31, 2023, from vehicle sales. Currently, Noida has 8 lakh registered vehicles. Ashish Bhawakar, general manager at Ace Honda, Sector 11, said Diwali is considered auspicious and sees a 35-40% increase in vehicle sales. “During this time, companies also offer discounts and corporate bonuses to attract customers, which results in more sales,” he said.
Source: https://timesofindia.indiatimes.com/city/noida/noida-diwali-week-vehicle-sales-at-5-year-high/articleshow/95172812.cms