How do festive seasons influence consumer behavior in India, especially in the automobile sector?

Festive seasons in India, such as Diwali, Dussehra, and Navratri, are culturally significant and are often associated with new beginnings and prosperity. These periods witness a surge in consumer spending across various sectors, especially in the automobile industry. Several factors drive this behavior:

• Cultural Beliefs and Auspicious Timing: Many Indians consider festivals as the most auspicious time to make big-ticket purchases like cars, believing it brings good fortune and prosperity.
• Attractive Discounts and Offers: Automobile companies and dealers launch special festive offers, discounts, easy financing, and exchange schemes to attract buyers, making purchases more affordable.
• Bonus and Incentives: Many employees receive bonuses or extra income during festivals, increasing their purchasing power and willingness to spend on high-value items like cars.
• Social Status and Gifting: Buying a new car during festivals is often seen as a status symbol. Some families also gift cars to loved ones as a sign of celebration and success.
• Peer Influence and Advertising: Aggressive marketing campaigns and peer influence during festivals create a sense of urgency and aspiration among potential buyers.
• Improved Sentiment and Optimism: The festive season brings a positive mood and optimism, encouraging people to fulfill long-pending desires, such as purchasing a new vehicle.
• Launch of New Models: Automobile companies often time the launch of new models or variants with festivals to tap into increased demand.