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