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Demonetisation And Its Impact On Auto Sector - NDTV CarAndBike
Demonetisation And Its Impact On Auto Sector - NDTV CarAndBike
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Society Of Indian Automobile Manufacturers (SIAM) released the overall automotive sales data for the month of January, 2017 and it does look like that the Indian automotive industry slowly but surely coming out of the slump in the months of November, 2016 and December, 2016 on the account of Indian government's demonetisation drive.
Auto Industry Recovers From Demonetisation Impact
It has been two months since the Honda City has been selling less than 3,000 units in a month in India. In December, 2016, the company sold 2,898 units. December was also the month where the sales of the Honda City were lesser than that of the Amaze. The total domestic sale of Honda in December, 2016 was 10,071 units as compared to 12,319 units sold in December, 2015, which is a -20.08 per cent decrease.
Honda City Registers Lower Sales Than Amaze In December, 2016
The government's demonetisation move might have had its impact on the regular workings of people but the automotive industry too has suffered the consequences of this programme. It was in December that the Society of Indian Automobile Manufacturers (SIAM) called demonetisation a temporary disruption in an otherwise healthy industry, and hoped that itll pass quickly but clearly the impact has been deeper and might have dented a few hopes at the end of 2016.
Demonetisation Impact On The Auto Industry
We've already provided you with a glimpse of the problems faced by car manufacturers due to demonetisation. While these effects are temporary, the auto industry like the others has taken a hit and the story is no different for market leader Maruti Suzuki.
Demonetisation Impacts Maruti Suzuki; Omni And Eeco Most Affected
The government's demonetisation programme has had a very negative impact on the sales of automobiles in November, 2016. Society of Indian Automobile Manufacturers (SIAM) is calling it a temporary disruption in an otherwise healthy industry, and hopes it passes quickly. But the impact could be deeper than it wishes.
Motown's Demonetisation Hit Shows Up In November Auto Sales
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