GST 2.0 drives car sales past 500,000 units, Sitharaman says
Finance Minister Nirmala Sitharaman said Wednesday that revised tax rates doubled automobile purchases to more than 500,000 vehicles between late September and the festival of lights. The goods and services tax changes took effect Sept. 22 and triggered strong consumer demand across passenger vehicle segments. Industry analysts estimate total retail sales reached between 650,000 and 700,000 units through the holiday period.
Tata Motors delivered more than 100,000 cars in 30 days and reported a 33 percent annual increase in transactions. Maruti Suzuki maintained its leadership position in the combined car and sport utility vehicle market. Online shopping platforms recorded sharp growth as premium goods and rapid delivery services expanded beyond major metropolitan areas.
The festival shopping season generated 6.05 trillion rupees in commerce and created temporary jobs for 5 million workers across transportation, warehousing, retail support, packaging and delivery operations. Stable pricing satisfied consumers and supported continued spending after celebrations ended. The Confederation of All India Traders said local products attracted substantial buyer interest throughout the sales period.
