Beating the blues of semiconductor shortage, post-Covid scenario and a weakened consumer sentiment, car sales have not just increased but touched record high levels in 2022. Some 3.73 lakh new cars were sold in Gujarat in 2022, an increase of 42 percent against 2.76 lakh in 2021.
Hefty discounts rolled out by dealers as well as car makers and expected price hike across all models augmented car sales in a big way. Supply constraints triggered by the semiconductor shortage eased to a great extent towards the end of the year. The festive season outlook was robust as a result of which sales momentum was good.
Companies rolled out a slew of discounts on entry-level models, ranging from Rs 75,000 to Rs 1 lakh. This made the deal very attractive because such a hefty discount meant 15-20 percent less price on an entry-level car, and this drew a lot of first-time buyers.
The demand remained good particularly during the Navratri-Diwali festive season and the momentum continued. With improved liquidity in the market, industry players are expecting a positive outlook for 2023. The luxury car segment has performed particularly well with some 2,902 units retailed across the year.
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