Oct 30, 2024 05:12 PM IST
Automobile gross sales round Diwali has fallen so low this yr that sellers are watching an all-time excessive stock of 80-85 days which provides as much as 7.90 lakh autos.
Automobile gross sales round Diwali has fallen so low this yr that sellers are watching an all-time excessive stock of 80-85 days which provides as much as 7.90 lakh autos value ₹79,000 crore as a complete, based on an Financial Instances report.
Prime producers like Maruti Suzuki and Hyundai have the biggest seller stock left over, adopted by others equivalent to Nissan and Citroen.(Reuters)
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That is additionally partially as a result of automakers had aggressively dispatched automobiles amid low gross sales, which had declined by 18.81%, as per knowledge from the Federation of Car Sellers Associations (FADA).
Automobile gross sales noticed a slowdown since this yr’s Could, with inventories rising since then.
Apparently the slowdown was seen even for automobiles within the worth bracket of ₹10-25 lakh. That is essential as a result of this phase was the first driver of gross sales progress after the pandemic.
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Excessive climate patterns have been attributed as one of many causes for automotive consumers to postpone their purchases. This included a warmer than common summer season adopted by heavy monsoons.
One more reason for the slowdown is the demand for newer fashions just like the Maruti Suzuki Fronx and the not too long ago launched Tata Curvv which hasn’t been affected an excessive amount of by this lack of demand.
Prime producers like Maruti Suzuki and Hyundai have the biggest seller stock left over, adopted by others equivalent to Nissan and Citroen.
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See extra Information / Enterprise / Automobile gross sales in festive season low, autos value ₹79,000 crore mendacity unsold: Report