Lacklustre sales on Dhanteras & Diwali for the auto industry this year | Car Dealer Tracker: Car Dealers Review & Rating site | Share your Experiences here

Lacklustre sales on Dhanteras & Diwali for the auto industry this year

There has been no cheers for the automotive industry where even the high festivities of Dhanteras, when buying metal in considered auspicious failed to revive consumer sentiments and sales remained slow across ll major markets.

 

 

Passenger cars and other vehicles remained weak on retain demand this Dhanteras against the bumper harvest of previous years. The bumper punch is still not there, most of the auto makers said. “Sales of cars and two-wheelers witnessed a not-so-exciting demand this time as we were struggling to sell the help-up inventories of the previous month. The only saving grace is that the retain sales on Dhanteras will reduce inventories for November and will be helping us to meet our sales targets,” said a Delhi based auto dealer.
 

Dealer principals from other brands said that retail sales remain almost 25-30% below expectations this year on rising oil prices, stock market correction, and the depreciating rupee.

 

Most of the players like Maruti, Suzuki, Toyota, Honda Car India and Ford Motor said business has been "slow” and they are looking at the market with cautious optimism.

 

Hyundai Motor India, Group Head, Marketing Puneet Anand said that the auto industry has witnessed a subdued festive season. “With cautious optimism that is reflecting the nervousness in the market, we are hopeful to post cumulative retail sales of more than 10,000 Creta, Elite i20 and Grand i10 with the added boost of our newly launched Santro family car."

 

Delhi market, the largest for cars across India, failed to pick up as concerns over rising pollution and restricting the lifecycle of vehicles dissuaded potential customers, while other metros and bigger cities also failed to attract customers to showrooms on the festive day of Dhanteras.