Wednesday, 29 October 2008

Dhanteras delivers this year too, over 15,000 cars sold

When all else fails, Motown can fall back on the goddess of wealth to bail it out. Meltdown or no meltdown, Dhanteras sales have sparked a sparkling Diwali for car companies.

Dhanteras – the most auspicious day for buying metal in North India – saw the industry clock three times its usual daily sales. Initial reports suggest that more than 15,000 vehicles (cars and SUVs) were sold on Sunday across the country. That’s a big leap from what the industry usually clocks, around 3,000-3 ,500 cars per day.

But this Dhanteras still couldn’t match the sparkle of the same day last year when around 17,000 vehicles were sold. The liquidity crisis and prevailing high interest rates as well as strict lending norms played spoil sport this time round, dampening demand.

Source: EconomicTimes

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