AHMEDABAD
One section hopes sales will match last year’s figures, others fear fall
While the festive occasion of Dussehra is a busy day for auto dealers, this year they are finding it hard to match the sales of previous year. A section of the industry is hopeful that deliveries will match, though another group said that they will miss last year's number by a big margin.
Sources in the auto industry told DNA that last year, monthly sales in Gujarat stood at an average of about 22,000 vehicles but dipped to about 16,000 this year. Ahmedabad has about 25 per cent share in it. Last year, the festive month of October witnessed close to 30,000 sales.
A source in the industry told DNA that in spite of auto slowdown so far during the year, indications are that the numbers will match this year. "Auto companies have come out with unprecedented discounts. Banks and financial institutions are going all out to woo customers. There is not better time to buy a vehicle," said a dealer of 2-wheelers and cars. With the Motor Vehicle Act becoming stricter, old-vehicles need to be replaced and so people are going for exchange. There are offers as well, giving a boost to sales.
A senior official of a leading car manufacturer said on the condition of anonymity that while average monthly sales were down this year, there would be no shortfall for the festive month. However, Harshal Desai, associate director of Landmark Group said that he has bookings for 149 vehicles for Dussehra, a drop from 236 last year. "However, this is much better than the sales for previous months this year. Market sentiments are weak. Sectors like diamond, textile and others are facing a severe slowdown. Liquidity is scarce and it is now affecting the consumer demand. However, there are attractive offers for BS-IV vehicles," said Desai.
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Rupesh Jantrania, director of Oceanic TVS said that this is the worst Dussehra he has ever faced and feels that the claims of matching the sales are unrealistic. "Companies are putting pressure on dealers to ensure that sales at least match. One of the major obstacles is that the payment cycle has been disrupted," said Jantrania.
While banks have created an impression that they are ready to lend money, Jantrania disagrees and said that there is not much impact on retail loans. Even Desai said that while in public, banks are displaying a liberal approach, in reality they have not relaxed lending norms.
A section in the industry said that this would be second consecutive year when sales have failed to rise during the festive season. "Sales had remained flat in 2018-19 had remained flat. Before that, they were on the rise. This year seems to be more difficult than last year," said a vehicle dealer.
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