7 Lakh Cars Worth Rs 73,000 Crore Lying Unsold With Dealers Across India
Inventory piling up since May 2024
Cars priced between Rs 10 lakh and Rs 25 lakh drove the increase in sales following the outbreak. But in recent months, the numbers have decreased. The luxury sector models that consistently record sales are the only exception. Small automobiles, which had the largest inventory, have previously experienced a similar circumstance. Over the past two years, this category has had slow development. However, automakers were able to keep things from becoming worse by cutting back on manufacturing and dealer shipments.
October, and november sales to the rescue?
High inventory issues more with older models
Car purchasers are spending their money on newer vehicles, according to sales statistics. maruti Fronx, maruti Swift, Tata Curvv, hyundai Alcazar, mahindra XUV3XO, and Thar Roxx are a few examples. Since their inception, all of these have seen significant development. There are no significant inventory problems with any of these. There is a chance that many older models may be included in the high dealership inventory due to the increased demand for newer models. Slow automobile sales since May 2024 may potentially be due to extreme weather conditions. Heavy monsoon rains after a scorching summer may have caused automobile customers to put off making purchases. car sales may see good improvement in the upcoming months as the weather has improved in the majority of the country.