Whalesbook
India's vehicle financing market saw a significant revival during the festive season, boosted by a GST rate cut on automobiles implemented on September 22. This led to a surge in fresh loan enquiries and disbursals from banks and NBFCs. Retail vehicle sales in September increased by 5.22% year-on-year, with two-wheelers up 6.5% and passenger vehicles up 5.8%. Demand further strengthened during Navratri, showing a 34% rise. Wholesale figures also indicate growth, with passenger vehicle dispatches up 4.4% and two-wheeler volumes up 6.7%, supported by improved consumer appetite and easier financing.