Cash crunch hits auto sales, November numbers down 5.48%

Just as automakers in India had feared, the government’s demonetisation strategy, implemented from November 8, has had its impact on vehicle sales, which indicate a slowdown across segments. 

The move to demonetise Rs 500 and Rs 1,000 currency notes exactly a month ago has seen strapped-for-cash customers, particularly in rural India, and buyers in urban India delay purchase decisions including those for new vehicles.  

As per the November 2016 sales numbers released today by apex industry body, the Society of Indian Automobile Manufacturers (SIAM), overall vehicle sales have slipped into negative territory after 15 months of continuous ...