Automobile major Toyota Kirloskar Motor on Friday reported a 10-13 per cent year-on-year increase in "order taking" on the auspicious occasion of Dhanteras this year.
Traditionally, the festival of Dhanteras witnesses higher demand for gold, jewelry and automobiles due to its auspicious significance.
In 2020, the festival was celebrated over two days in various parts of the country.
"Hence in terms of retail sales also, we have witnessed a 12 per cent growth when compared to Dhanteras in 2019. We are hoping that sales in November will be more bullish when compared to October sales," said Naveen Soni, Senior Vice President, Sales & Service, Toyota Kirloskar Motor.
According to Soni, the company has already witnessed a decrease in demand created due to pent up demand from 36 per cent in the earlier months to around 20 per cent last month.
"Similarly, festive demand will also last till about the end of this month. Therefore, what is more prone to sustain are factors like consolidation of the market at the lower end due to personal mobility issues and the variety of schemes and offers that OEMs can come up with," he said.
(With inputs from IANS)