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'Fresh restrictions to impact retail automobile sales'
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SME Times News Bureau | 05 Jan, 2022
Covid-led restrictions in several states and people starting working
from home are expected to have a negative effect on retail automobile
sales, the Federation of Automobile Dealers Association said on
Wednesday.
"Various state governments have once again announced
Covid restrictions. Work and education from home have resumed and will
have a negative effect for auto retail. With the fear of health care
expenses rising again, the customers are shying away from closing their
purchase decisions," the association said in a statement.
Besides, it said that the association will remain cautious over the next two-to-three months.
Reacting
on the fall in YoY automobile sales in December, the association said:
"The month of December is usually seen as a high sales month where
original equipment manufacturers continue to offer best discounts to
clear the inventory due to change of year.
"It was however not
the case this time around as retail sales continued to disappoint thus
wrapping up an underperforming calendar year."
The decline in sales in December is also attributed to the shortage of semiconductor.
In December, total retail automobile sales in India fell 16.1 per cent to around 1.6 million units.
Commercial
vehicles segment, however, performed relatively well in December. The
sales increased 13.7 per cent YoY to 58,847 units, the association said.
"The
government's push for infrastructure spending especially road
infrastructure, better freight rates, price hike announcement in January
and a low base helped the overall segment close in positive double
digits," it added.
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