With Diwali festivities right around the corner several industries particularly the auto sector are hoping to rev up the market from the gloom. Despite the steep sales decline in the past quarter, carmakers are getting ready to launch a number of sporty cars in India during the festive season.
According to recent reports of Society of Indian Automobile Manufacturers (SIAM), car sales in India witnessed a weak market for the first time since last October. The car market saw a decline of 18.6 percent in August, and in the past three months car manufactures were forced to slowdown production due to low demand for vehicles in the country.
Despite the slowdown and precipitous hike in fuel prices, the auto sector is hoping to cash in on the festival market and have announced the launch dates of several new cars in the country.
According to Economic Times, R. C. Bhargava, Chairman of Maruti Suzuki India Limited (MSIL) said, "I don't think the hike will have a big impact on demand; there may be a temporary reduction in demand, but off take should pick up by the time the big festivals set in."
Some of the car manufacturers set to unveil new cars include Mercedes, Nissan, Mahindra and Mahindra and Chevrolet. The country is also expecting the launch of some high-end cars like Tata Aria, Jaguar XJ L Ultimate and Audi S6 by the end of this year.
"We are getting no support from the market and we hope that the festival demand will at least be as per expectations...that's why we are launching new models and getting ready for the festival months," said Debashis Mitra, director-sales and marketing, Mercedes Benz India, to The Times of India.
Click on the slideshow to take a look at some of the upcoming cars set to launch this season.