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Worry over demonetisation leading to a drop in demand had led the car industry to cut back despatches for November-December. Most analysts expected sales to take a hit. However, the latest data by the Society of Indian Automobile Manufacturers (SIAM) shows despatches during the period were flat.
In a note to investors, expected 13 percent drop in despatches during the period. However, customers seemed to have returned to purchases far more quickly. While demonetisation could defer demand for passenger vehicles, there may not be cancellation.
Worry over demonetisation leading to a drop in demand had led the car industry to cut back despatches for November-December. Most analysts expected sales to take a hit. However, the latest data by the Society of Indian Automobile Manufacturers (SIAM) shows despatches during the period were flat. 
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