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videos | IST

No festive season for auto sales as bookings down by 10%

Mini

It's been a poor start to the festive season for automobile dealers and the auto industry on the back of low sales and bookings. A dealer check suggests that on an average, Navaratri sales have been down at least 25-30 percent for carmakers, even bookings have seen a dip by about 10 percent or so over the last 10 days.

It's been a poor start to the festive season for automobile dealers and the auto industry. Navratri sales of passenger cars were 50 percent down for some passenger carmakers because vehicles were just not available in the market.
A dealer check suggests that on average, Navaratri sales have been down at least 25-30 percent for carmakers, even bookings have seen a dip  by about 10 percent or so over the last 10 days, because people are not working and also due to lack of visibility on when they may actually get the vehicle.
Looking at pending bookings, Maruti Suzuki alone has about 2.5 lakh pending bookings to serve. The overall passenger car industry has 5 lakh pending bookings.
In two-wheelers, we have seen a 15-20 percent dip in retail during Navratri and Vijayadashami and this is primarily because of a lack of demand for the entry-level segment.
High fuel prices are still impacting customers and that's affecting purchase decisions as well. So a very dim, muted start to the festive season. It has been a muted Navratri and dealers are hoping that things will start to look up here onwards.
Watch the accompanying video of CNBC-TV18’s Parikshit Luthra for more details.