AUTO SALES ZOOM

The Consumer Confidence Index may have dropped in the month of September, but this certainly does not seem to be reflected in the auto sector as car sales reached record heights in the month. The festive season along with more bonuses and increasing job confidence seems to have driven this frenzy of buying. Another important factor has been the availability of cheaper finance. The month of September saw an impressive 1.60 lac units being sold against 1.32 lac units sold in Sep 08. This is an impressive 21% growth in a sluggish environment.
Even the traditionally inauspicious period of Sharad did not effect sales with consumers continuing their spending binge.
With this conflicting consumer behavior, it would be interesting to see how sales pick up across other categories during the month of October - the most important festive season for all retailers.