MoTown India runs into muted sale season; dispatches drop as retail pick-up drags even after steep discounts
SIAM data. Automobile companies are reducing the number of vehicles dispatched to dealerships as buyers are showing caution in their spending, despite significant discounts, said the report (by Pankaj Doval).
According to the Society of Indian Automobile Manufacturers (Siam), passenger vehicle dispatches decreased by 2% in the second quarter of the current fiscal year. Companies typically build up inventory before the festive season during this time, but dispatches dropped to 10.5 lakh units, down from 10.7 lakh units in the same period last fiscal year.
For the first half of the fiscal year (April-September), dispatches rose marginally by 0.5%, reaching 20.8 lakh units compared to 20.7 lakh units in the year-ago period.
Shailesh Chandra, President of Siam and Managing Director for Passenger Vehicles and Electric Mobility at Tata Motors, said the industry may see low single-digit growth this year. «The first half for the passenger vehicles industry has been flat, and even if we grow by over 5% in the second, we will end up at sub-5% for the full year,» Chandra stated.
Siam had initially predicted a growth range of 5% to 8% for the passenger vehicles sector at the beginning of this fiscal year.
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