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India’s passenger car retail sales fall by five percent in August

Thursday, 05 September 2024 15:00:41 (GMT+3)   |   Kolkata
       

India’s passenger car retail sales in August this year as per new registrations have been estimated at 309,053 units, a decline of 4.53 percent year on year, according to data released by the Federation of Automobile Dealers’ Association (FADA) on Thursday, September 5.

According to FADA, inventory of passenger cars at dealers rose to 780,000 units in August, up from an estimated 700,000 units in the previous month.

“Even with the arrival of the festive season, the market remains under significant strain due to delayed customer purchases, poor consumer sentiment, and persistent heavy rains. Inventory levels have reached alarming levels. Rather than responding to the situation, car making companies continue to increase dispatches to dealers on a month-on-month basis, further exacerbating the issue,” Manish Raj Singhania, president of FADA, said in the statement.


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