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GST Rate Cuts Fuel Record Car Sales as Festive Demand Peaks
Lower GST rates and festive demand have driven India’s October car sales to record highs, with automakers reporting robust orders and positive momentum.
India’s October auto sales surged sharply, boosted by reduced GST rates on 375 consumer items including kitchen staples and vehicles. The rate cuts, which took effect from the onset of Navratri, have encouraged new purchases and led automakers to report their highest-ever sales for the month. Analysts attribute this demand to both festive buying and the substantial GST reductions, making large-ticket goods like cars more affordable for buyers. Car manufacturers expect positive momentum to continue as economic sentiment improves heading into year-end.