Automakers see surge in vehicle purchases on Dhanteras

New Delhi, Oct 18 (IANS) Automakers saw a surge in vehicle purchases on Saturday as people celebrated Dhanteras with full vigour ahead of Diwali.

This year, Dhanteras deliveries are spread across multiple days because of it being a Saturday.

“We are witnessing strong customer demand, with deliveries expected to be around 14,000 units — approximately 20 per cent higher than last year,” said Tarun Garg, Whole-time Director and COO, Hyundai Motor India Limited (HMIL) on Dhanteras deliveries.

“The positive momentum is driven by the festive spirit, a buoyant market environment and the encouraging impact of GST 2.0 reforms,” he mentioned.

HMIL this week announced the appointment of Garg as its new MD and CEO, effective January 1, 2026. Garg will be the first Indian to lead Hyundai Motor India since the company began operations in 1996.

Meanwhile, huge shopping was witnessed across India on Dhanteras, with total trade estimated to have crossed Rs 1 lakh crore, marking one of the strongest festive seasons in recent years.

Gold and silver alone accounted for more than Rs 60,000 crore in sales, while Delhi markets registered transactions exceeding Rs 10,000 crore as demand for indigenous products surged.

Praveen Khandelwal, National General Secretary of the Confederation of All India Traders (CAIT) and Member of Parliament from Chandni Chowk, said that Dhanteras marks the appearance of Lord Dhanvantari with a pot of nectar during the churning of the ocean, symbolising health and prosperity.

"The total trade in gold, silver, and other Dhanteras-related items across the country is estimated to be worth Rs 1 lakh crore," Khandelwal said.

Last Diwali, gold prices were around Rs 80,000 per 10 grams, while this year they surged to over Rs 1,30,000 -- an increase of nearly 60 per cent. Silver prices also rose sharply from Rs 98,000 per kilogram in 2024 to more than Rs 1,80,000, an increase of about 55 per cent.

—IANS

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