Key Points
Carmakers expect to face a record stockpile of 400,000 vehicles worth 44,000 crore by this month-end as demand cools in India after a 3-year run of scorching sales..
With car despatches to dealers outpacing demand, passenger vehicle registrations, taken as a proxy for retail sales, are also expected to fall by 5% in May from a year earlier..
The likely decline - 2nd this year - comes amid election-related uncertainties, completion of marriage season, and heat waves in several key markets especially Delhi NCR, said industry executives...
Automakers are expected to end May with wholesales or factory despatches to dealers of 340,000-350,000 vehicles, up 4-4.5% from a year earlier..
"It even surpasses the months preceding the festive season when manufacturers bulk up stock," he said.. Brar expects industry car registrations to fall 10% sequentially in May though the Korean automaker will likely post growth backed by a refreshed product lineup..
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