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Shock Decline in Vehicle Sales Hit Dealers This Diwali

Shock Decline in Vehicle Sales Hit Dealers This Diwali

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  24 Nov 2018 2:33 AM GMT

Mumbai: An “unexpected de-growth” during the festival season this year has shocked the automobile industry with consumers “postponing” purchase of both two and four-wheelers, a top industry official said here on Friday. During the festival season Navratri to Diwali, the Federation of Automobile Dealers Association (FADA) recorded a dismal decline in sales of two-wheelers and four-wheelers, barring three-wheelers like commercial vehicles and autorickshaws. In fact, this is the first time in the past five years or so that FADA has notched a negative growth during the auspicious festival season of Puja and Diwali around 42 days, when thousands flock to book or purchase vehicles. “We had not witnessed such a dull festival season... Many negative factors came into play during this season. It’s a matter of deep concern for the dealership community,” FADA President Ashish H. Kale told IANS.

According to Kale, four-wheelers or passengers vehicles recorded a steep decline of 14 per cent in the prime time between September 21-November 20 this year, compared to the same period in 2017. This came to actual sales of 287,717 passenger vehicles this season, down from last (2017) season’s 333,456, he said. In the two-wheelers segment, the decline was equally sharp at 13 per cent during the same period, recording 15,83,276 two-wheelers sold compared to 18,11,703 last season, Kale said. Incidentally, four-wheelers have notched an overall decline of 1.4 per cent from April to November this year, or 16,26,555 passenger vehicles sold compared to 16,49,650 sold during the same period in 2017. (IANS)

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