Passenger Vehicles' Stockpile Amid Festive Season Rings Alarm Bells Among Auto Dealers outlookindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from outlookindia.com Daily Mail and Mail on Sunday newspapers.
Starting with Chhattisgarh and Mizoram, five Indian states hold assembly elections, setting the stage for the 2024 Lok Sabha polls. A weak coalition government is a concern for the national economy. However, excessive promises and giveaways, or the revdi culture, may impact long-term growth and fiscal deficits, potentially affecting economic fundamentals and investment.
A twin strategy of moderating wholesale dispatches and announcing discounts is essential to help dealers clear their inventory before year-end, averting the potential financial repercussions associated with excess unsold stock, said the association
Indian tyre maker Apollo Tyres Ltd. reported a better-than-expected second-quarter profit on Tuesday, boosted by higher auto sales and lower input costs..
In October, year-on-year auto sales in India declined by 8% due to the Shraddh period in the first half of the month. However, the Federation of Automobile Dealers Association (FADA) pointed out that this decline should not be a cause for concern, as sales increased by 13% from the previous month. Three-wheeler sales also reached a new high.
In October, Indian vehicle registrations fell by 8% amid the inauspicious Shraddh period, with 2,117,596 vehicles registered, according to FADA. Despite the decline, resilient demand during Navratri and ongoing festivities bolstered buyer sentiments across categories, indicating a strong market rebound.
Vehicle Registrations October 2023 India: In October, Indian vehicle registrations fell by 8% amid the inauspicious Shraddh period, with 2,117,596 vehicles registered, according to FADA. Despite the decline, resilient demand during Navratri and ongoing festivities bolstered buyer sentiments across categories, indicating a strong market rebound.
India s retail vehicle sales fell 7.7% from a year earlier in October, a dealers body said on Monday, adding that a build-up of inventory of passenger vehicles was a cause for concern..
In the midst of the ongoing festive season, the Indian market witnessed a robust double-digit increase in motorcycle and scooter sales last month, reflecting improved consumer sentiments. Hero MotoCorp, the market leader, reported a substantial growth of 26.4%, selling over half a million units domestically. Rival companies such as Honda Motorcycle and Scooter India, TVS Motor Company, and Bajaj Auto also experienced significant sales upticks.
Indian two-wheeler makers sales to dealers inched closer to pre-pandemic volumes in October due to strong festive demand and discounts on entry-level models, data published by companies showed on.