Vinkesh Gulati, president of the Federation of Automobile Dealers Associations (FADA), on Thursday, said that there is no passenger car stock due to semiconductor shortage.
The Federation of Automobile Dealers Associations (FADA) said that 2021 has been the worst festive season for auto dealers in a decade with chip shortage in passenger vehicles (PVs) and low demand for two-wheelers hurting sentiments.
“Semiconductor issue may have improved, we are getting a lot of information on that but when it comes to the ground reality, we are sitting at the lowest ever passenger car stock; pre-festive it was 15-20 days, today we are at 10-15 days. Therefore, on-ground reality, it has not shown that effect; maybe in a month or two, the production will increase and we will get the vehicle on ground,” Gulati said, in an interview to CNBC-TV18.
On festive sales, he said, “The demand is good in cars, in passenger vehicles (PVs). The waiting period has increased post the festive season. We were expecting good production to happen, but we entered this festive season with the lowest inventory level and this is the worst festive for the past decade.”
For the entire interview, watch the video