NEW DELHI: The high prices of gold and silver somewhat dampened buyer sentiments this Dhanteras as people purchased more on expectations of a further surge, even as cars, two-wheelers and consumer electronics such as televisions saw strong buying on the day considered auspicious for new purchases. Car deliveries, which peak during Dhanteras, however, were impacted by the fact that the festive day falls on a Saturday this time around. Many consumers prefer not to take delivery of metals on a Saturday.However, car companies say that deliveries still remained strong and will outpace last year’s numbers, especially as a fillip has been provided by the GST duty cuts that led to a significant reduction in retail prices. “We expect overall Dhanteras sales to be around 51,000 units, against 42,000 last year,” said Partho Banerjee, Senior Executive Officer (Marketing & Sales) at Maruti Suzuki. “However, since Dhanteras will be spread between Saturday and Sunday this year (ends on 1:18PM on Sunday), we had some customers who will take deliveries on Sunday. So, we retailed 41,000 units today and expect to do another 10,000 tomorrow. This will be the highest-ever number that we will do on Dhanteras.”Tarun Garg, Director & COO at Hyundai India, said the company is witnessing strong customer demand, with deliveries expected to be around 14,000 units, approximately 20% higher than last year. “The positive momentum is driven by the festive spirit, a buoyant market environment and the encouraging impact of GST 2.0 reforms.”In luxury, Mercedes-Benz also saw strong traction. “This Dhanteras not only saw deliveries slightly higher to last year’s levels but we also expect a strong order booking for deliveries on Diwali. Going by the current trends, this should be the best ever October for us,” Santosh Iyer, MD & CEO of Mercedes India said.In gold, with 10 gms prices shooting upwards of Rs 1.3 lakh, the value of purchases was high even though absolute volumes slipped. Silver purchasing is strong. “Value-wise demand is higher on gold but on volumes, it is down 20%. Silver is higher in value and quantity both due to substitution from gold. People are still buying as they expect prices to be headed towards an uptrend,” Rahul Gupta, CMD PP Jewellers & Diamonds, said.Rajesh Rokde, Chairman of Gem and Jewellery Council of India (GJC), said Dhanteras 2025 has seen a 10–15% dip in volume compared to last year. “… but overall value is up sharply. We expect festive sales to cross Rs 50,000 crore. Despite high gold and silver prices, consumer sentiment is strong, driven by strategic buying and early wedding purchases. Gold coins are leading demand, with hallmark-certified lightweight jewellery also performing well.”Arun Narayan, SVP at Tanishq, said the festive season has been “uniformly strong” across markets, with encouraging responses from metros as well as Tier-2 and Tier-3 towns. “We’re seeing a healthy mix of purchases — from investment-driven buys above Rs 2 lakh to high demand for lightweight jewellery and gold coins around Dhanteras… the response to our gold recycling and exchange initiative has been outstanding. All indicators suggest that demand will continue through the post-festive wedding season as well.”TV sales have been strong on the back of GST cut on bigger screens. “We have been informed that this year’s Navratri season witnessed record-breaking sales in the electronics sector, registering a 20–25% increase compared to last year. All major retail chains have reported unprecedented demand across product categories — from TVs and washing machines to smartphones and air conditioners. Notably, 85-inch televisions were completely sold out, and many families upgraded their appliances to newer models, reflecting rising consumer confidence and purchasing power,” Electronics and IT Minister Ashwini Vaishnaw said.
