Thursday, 29 December 2016

Two-wheeler sales, bookings most hit post demonetisation

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The sector that was likely hit the most due to demonetisation is automobiles. To throw more light on the outlook for the sector post the cash crunch John K Paul, President, Federation Of Automobile Dealers Associations (FADA). The year-on-year two-wheeler sales for the month of December are down 40 percent in urban areas and 50-60 percent in rural. Bookings for two-wheelers is down about 25-30 percent and that for cars are down 10-15, said Paul. The luxury segment, CV segment and tractor sales have also been hit badly, said Paul. However, the car segment in cities has seen recovery in December and is likely to do sales similar to that of December last year. Rural car segment, too, is better than November but has to catch up with last year December sales. Moreover, manufacturers have cut productions and offered discounts, incentives for car sales, so inventories in December are less.

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