Automobile sales continued to slip in December despite a faint uptick seen in the two preceding months, worrying the industry that a recovery in the Indian car market is not yet in sight.
Industry executives said sales in the near future might remain subdued, because companies have mostly exhausted their Bharat Stage (BS)-IV stock and will now be selling BS-VI vehicles that are costlier. “With the impending price hikes of 13-15 per cent for BS-VI models coming in from April, demand headwinds should continue in 2020-21 for the two-wheeler segment,” Nomura said in a report. Retail …
Source: Business Standard
