00:00Hi guys and welcome to drive spark and you are watching another video for GST and that impact
00:08that it has created on the Indian market and specially for the automotive sector. So in
00:13today's video I'll be telling you what all companies have sold how many cars due to the
00:18reduction of the GST rate and due to the festive season also which is ongoing at the moment. So in
00:23this video we'll be talking about some record-breaking numbers that the manufacturers have
00:27seen in just a single day. Now the opening of the Navaratri turned into a record selling occasion
00:32for car makers across the Indian market due to the GST reduction combined with the festive season as
00:37I mentioned earlier and this has pushed the sales volume very sharply at a higher mark. Now small
00:43vehicles saw GST cuts up to 18 percent from the previous 28 percent while larger vehicles saw a
00:48drop of overall taxation rate that is GST plus CES to a new 40 percent flat rate and prices have gone
00:55down significantly. Now if we talk about manufacturers number one we come to Maruti. Now Maruti led the
01:01surge in this and they registered around 80,000 inquiries across this dealership in just one day
01:08and deliveries crossed 25,000 vehicles with the company officials indicating the number may have
01:14touched also 30,000 units as the pending registration and backlog clearance are added through the week.
01:19So just imagine like due to the GST cut and due to the new prices that is the lower prices for entry
01:26level cars they have reduced so Maruti has seen a record breaking number. Now if we talk about Hyundai
01:31Motor India they saw a very unexpected movement the company reported wholesale dispatch of what 11,000
01:37vehicles to its dealers on one single day that is the first day of Navaratri. Now this marked Hyundai's
01:43highest sale in one single day in the past five years and this all happened due to the reduced thicker
01:48prices and the festive season offers that is going on. Now Tata Motors matched Hyundai's pace with its own
01:55milestone. The homegrown manufacturer delivered nearly 10,000 vehicles across the Indian market in
02:00one single day while it is also reported that 25,000 inquiries were done across its outlet in India.
02:08Now if we talk about the combined performance of these three major automakers highlighted the immediate
02:13impact of the tax cut on consumer segment. Now popular models such as Maruti smaller cars and Tata smaller
02:20SUVs and Hyundai's entry level models saw a strong traction of buyers as it took advantage of the festive
02:25season benefits and the impact of the GST reduction with prices going down significantly. Now the demand spike
02:33just came hours after post of the GST price cut were announced. Maruti cars recorded a reduction of up to
02:40rupees 1.5 lakh. Tata cars price cut up to rupees 1.2 lakh while Hyundai's slice prices by up to 1.24 lakh.
02:49Now just imagine the wave that has been created by the new GST. It has impacted the automotive industry
02:55very very significantly because prices have gone down for entry level cars so that's why sales have
03:00gone up and plus due to the festive season that is Navaratri. First day they recorded so much and it
03:06will continue going on since the festive season will be on for some time now. So for such interesting
03:12news please follow drive spark and I will see you in the next one.
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