Anticipation of strong festive season growth boosts automobile sales in August
Car sales in the festive season is expected to see a huge growth and in anticipation there was a build-up in inventories at the dealership level.
Key highlights:
- Inventory build-up at the dealerships for the festive season was behind growth in August
- Dealerships are anticipating high sales in the upcoming festivals such as Dusshera and Diwali festivals in September and October
- Biggest surprise was the robust growth in commercial vehicle sales
The wholesale automobile sales for the month of August was strong across all segments. This was given to the inventory build-up at the dealerships for the festive season. With a good monsoon season seen across the country these dealerships are anticipating high sales in the upcoming festivals such as Dusshera and Diwali festivals in September and October.
Last year the inventory build-up was seen in the month of September as these festivals coincided in the month of October.
Car manufacturers post mixed sales in August; CV sales make big recovery
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.