GST delivers blow to car sales
Send us your feedback to audioarticles@vaarta.com
Hyundai, Tata Motors and Mahindra have all reported a slump in sales, while Maruti Suzuki India reported a meagre rise of 1.2 per cent in comparison to last year.
Sales & Marketing Director of Hyundai Motor India Ltd, Rakesh Srivastava, accused GST of the company`s 5.6 per cent drop in domestic sales. An increased demand is expected after GST has been successfully implemented.
Sales of minis like Alto and WagonR, and Omni and Eeco also showed a slump, while compact models such as Swift, Estilo, Dzire, Baleno and Ignis showed a slight 1.3 per cent increase. Only utility vehicles had any proper increase, going up a steep 43 per cent.
Tata Motors were also affected as there was a slump in domestic sales, but this is expected to be temporary.
Mahindra & Mahindra figures showed a 54 per cent drop in sales, with only commercial vehicles sales going up slightly.
Follow us on Google News and stay updated with the latest!