INDIA SALES ANALYSIS: NOVEMBER 2016
Just when vehicle sales across segments were beginning to accelerate, the demonetisation of old currency has come as a speedbreaker. Showroom footfalls have reduced and retail sales across vehicle segments are slowing down.
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Image courtesy: Bosch India
Just when India’s automobile sector spanning passenger cars, SUVs, two- and three-wheelers, and commercial vehicles, was beginning to accelerate, it came across a speedbreaker in the form of demonetisation on November 8.
Since then, the government’s ban on old currency notes of Rs 500 and Rs 1,000, aimed at taking out 86% of the currency in circulation in the country, slow issuance of new currency notes and their lack of widespread availability has dampened market sentiment substantially. The impact is being felt not only in the automotive sector but also across many others including FMCG and e-retailing. Footfalls in ...
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