Carmakers brace for slowdown, festive season expected to be tepid
Sumant Banerji Last Updated: October 12, 2018 | 17:20 IST
Typically the months of October and November that witness the twin festivals of Navratri and Diwali ring in over a quarter of the annual sales for passenger vehicle manufacturers but the start has not been very auspicious this year. Industry body Society of Indian Automobile Manufacturers that collates sales data every month on Friday said sale of cars dropped by 5.6 per cent in September while that of SUVs went down by 8.3 per cent over September last year. This was the steepest decline in a month since June 2017, when dispatches were artificially low due to the roll out of a unified Goods and Services Tax in July 2017.
Comments
Post a Comment