Auto sales may plunge 30% this festive season. But don’t blindly point a finger at tepid demand.

Customer offering pooja after buying a car at Ace Honda Showroom on the occasion of Dhanteras festival, on November 12, 2020 in New Delhi, India.

Synopsis

Last year, auto sales during the 42-day festive period had dropped 4.74%. This year, the decline could be much sharper. While dealers are seeing uptick in consumer sentiment, supply-side constraints, including a prolonged chip shortage, are limiting automakers’ ability to manufacture and dispatch vehicles to retail outlets.

It was supposed to bring the much-awaited tarmac after a long stretch of rough roads. Everyone in the Indian auto industry, from manufacturers to dealers to suppliers, had their hopes pinned on the October-November festive season when sales normally peak. They are now on a wing and a prayer. Last year, as the pandemic hit the economy, auto sales dropped 4.74% during the 42-day festive period. This year, the decline could be steeper at

  • GIFT ARTICLE
  • FONT SIZE
  • SAVE
  • PRINT
  • COMMENT

Sign in to read the full article

You’ve got this Prime Story as a Free Gift

Already a Member?

Special Offer

Get Flat 20% Off

ON ET PRIME MEMBERSHIP

Get Offer

Why ?

  • Exclusive Economic Times Stories, Editorials & Expert opinion across 20+ sectors

  • Stock analysis. Market Research. Industry Trends on 4000+ Stocks

  • Clean experience with
    Minimal Ads

  • Comment & Engage with ET Prime community

  • Exclusive invites to Virtual Events with Industry Leaders

  • A trusted team of Journalists & Analysts who can best filter signal from noise

Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Automobile News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! TechAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More