FADA has pointed out that even though the festival season usually helps boost car sales, October is going to be key for dealers and manufacturers to sell off their extra stock.
In September, car sales were sluggish despite the upcoming festivals. Dealerships are full of cars waiting to be sold. According to FADA, there are about 790,000 cars worth ₹79,000 crores at dealerships, and many of these have been sitting unsold for around 80-85 days.
This past September, retail car sales dropped by about 1%, totaling 275,681 units sold.
Here are the September Sales Numbers:
Car sales fell by 18.81% compared to last year, with 275,681 units sold.
Two-wheeler sales decreased by 8.51% compared to last year, totaling 1,204,259 units.
Three-wheeler sales dropped by 0.66% compared to last year, reaching 106,524 units.
Commercial vehicle sales fell by 10.45% compared to last year, totaling 74,324 units.
FADA mentioned that while the festival season can bring a chance for recovery, it’s important for dealers and manufacturers to clear out their inventory in October. Effective inventory management and festive promotions will be crucial for boosting sales during this period.
Stay informed with our financial updates, stocks, bonds, commodities. Get global & political insights. Follow us & enable notifications for the latest updates.
