Tuesday, December 11, 2012
By Manoj Kumawat
New car sales slid in November despite some rise in demand during Diwali
The Mahindra Quanto, Chevrolet Sail UVA and the Maruti Alto 800 have been the talk of the town for the last two months. These cars were also believed to be the volume pullers for their respective car brands. But contrary to the popular belief that there were unprecedented car sales in November; the car sales have in fact dipped by more than 8 percent in this month. This is a clear sign that the festive season was not able to trigger demand of cars even as much as the previous year. Other reasons that were believed to have marred car sales include high interest rates, low liquidity, fuel price rise and hike in car prices.
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In a recent statement, Indian automotive body, Society of Indian Automobile Manufacturers (SIAM) has said that though the total sales of automobiles that include two wheelers in India increased by 1.79 percent but the passenger car sales dipped by 8.25 percent. In November last year, car makers sold around 1.72 lakh units while this year only 1.58 lakh units were sold. It is said that this will have direct impact on the total yearly sales and the industry body has reportedly said that it could revise the forecast for the present fiscal. Although the situation is grim but it is not as worse as was in August when sales dipped by 18.56 percent.
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Now that the festive season has done only the damage control and was not able to bring about any drastic improvement in sales, the industry should not be bullish about the times to come, said an independent expert. The new car offering such as Ford Ecosport and Maruti XA Alpha or the Tata Nano diesel will also be able to control the damage and do nothing more than that.