The post-festive period has made the car makers in the country to run their heels to meet the demands. The surge in the production has compelled the car buyers to wait even for four months, as the wait phase has seen its come back. Invariably all the brands face this hiccup—Swift (for Dzire, diesel the waiting period is more than 6 months) , Honda City (four months), Ritz(two months waiting period) thus making an average waiting period of 6-8 weeks. This is quite strange even after the festive spirit.
M&M, India’s largest manufacturer in utility vehicle sector, has the unusual full running capacity, and foresees more demands for November and December. Xylo , Scorpio and the Bolero all have an average wait period of two-three weeks. Hyundai’s story with its i10 and i20 is successful as the recent periods fetched 20-25% additional demands than the previous year.The demand surge is a continuation of the earlier periods, and due to the attractive interest rates offered by the financial institutions aided by discounts and offers from the manufacturers and dealers.
However, the demand has evoked a kind of fear on the rise of price, as already mooted by Kotak Mahnidra Bank’s rise in the interest rate of 50 basis point. The company’s CEO said that the interest rate has been playing in the push over the vehicles and there need not be any panic over the demand.
The situation in the two wheelers too bear the same picture – Hero Honda and Bajaj Auto convincing the customers on the waiting period. The demand is in the offshoot in November too, that Hero Honda is able to cross its target -4million units- this year.