Chandigarh: Motors roar, gold loses lustre on Dhanteras
Auto sales reflected strong customer enthusiasm, with vehicles from brands like Maruti Suzuki, Hyundai, Tata Motors, Mahindra & Mahindra (M&M), Toyota, Honda, Kia and Hero MotoCorp seeing the most demand
Dhanteras, considered auspicious for buying precious metals, saw a bustling automotive market in Chandigarh, with over 1,000 four-wheelers and 2,000 two-wheelers getting sold on Tuesday. In stark contrast, jewellery sales plummeted by 30-40% compared to last year, as high gold prices discouraged buyers.
Vinod Talwar, president of the Jewellers’ Association, Chandigarh, said, “Sales were slower this Dhanteras compared to previous years, with a 30-40% dip due to high gold prices.”
Talwar added, “The cost of 24-karat gold reached nearly ₹82,000 for 10 gm and silver was priced close to ₹1 lakh per kg, dampening sales in the jewellery sector.”
However, auto sales reflected strong customer enthusiasm, with vehicles from brands like Maruti Suzuki, Hyundai, Tata Motors, Mahindra & Mahindra (M&M), Toyota, Honda, Kia and Hero MotoCorp seeing the most demand.
Though deliveries started at 8 am, vehicle showrooms remained open late into the night to cater to customers who made most of the ₹50,000 to ₹1 lakh discounts.
Of the 1,000 four-wheelers sold, roughly 100 were electric, and among the 2,000 two-wheelers, around 150 were electric as well.
In comparison, last year, around 900 four-wheelers and 1,500 two-wheelers were sold during Dhanteras. Outside the festive season, tricity dealers sell 3,200 passenger vehicles and approximately 3,500 two-wheelers each month.
Nitin Mehan, secretary of the Federation of Automobile Dealers of Chandigarh, shared, “The Dhanteras celebrations will continue on Wednesday as well, as the response has been excellent. Many people had pre-booked their vehicles specifically for this day and we are now delivering them.”
Balwinder Singh Oberoi, a dealer of Royal Enfield motorcycles in Sector 27, stated, “This year, we have seen a bumper sale, reminiscent of 2019. On Tuesday alone, we delivered around 100 motorcycles. Although the response during Navratras was not very strong, after Dussehra, we saw a surge in bookings.”
Last year, auto dealers reported that although 700 two-wheelers were booked for Dhanteras, many buyers cancelled their bookings after the UT administration halted the registration of fuel-powered two-wheelers on October 29, 2023. The administration stopped the registration of internal combustion engine (ICE) two-wheelers after reaching the EV policy target for 2023-24. However, following pressure from auto dealers and buyers, it lifted the cap on November 8, allowing unrestricted registration of non-electric vehicles until Gurpurab on November 27 last year.
Markets remain abuzz with vibrant crowds
Meanwhile, despite the dip in jewellery sales, the overall market activity on Dhanteras remained lively, as shoppers flocked to purchase home essentials, steel utensils, crockery and home decor.
Chandigarh’s busy markets in Sectors 17, 22, 23, 20,15 and others were packed with shoppers, with Panchkula and Mohali also seeing large crowds as people bought new items for Diwali.
The festive rush was especially evident on Chandigarh’s streets and sidewalks, where vendors sold decorative items and a wide range of lights to illuminate homes for Diwali.
Shoppers thronged these setups, purchasing everything from clay lamps to wooden decorations, adding to the seasonal sparkle.
According to Charanjiv Singh, a member of Chandigarh Beopar Mandal, “The markets are much more vibrant this year, with increased footfall and shopkeepers reporting good profits.”
In Mohali, Narender Singla, a shopkeeper at Singla Crockery, also noted a noticeable increase in enthusiasm, stating, “People are buying crockery and home appliances in large numbers. We are seeing more activity this year than in previous ones, especially after the Covid-19 pandemic.”
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