Breaking News

Corona Virus Full Stats

India Stats

6,287,238 Total Cases
98,135 Deaths
5,240,242 Recovered

Global Stats

34,020,311 Total Cases
1,015,380 Deaths
25,267,863 Recovered
Read more
Home » Auto » Car sales growth slows in April

Car sales growth slows in April

NEW DELHI: Car sales started the new fiscal on a modest note as rising interest rates and fuel prices are set to moderate demand from the scorching 30%-plus growth rate of 2010-11.

Companies are already concerned about the “negatives” that are building up at a time when vehicle prices have gone up due to higher input costs, hitting affordability and sentiments. Maruti and Hyundai both spoke of decline in footfalls. And with the central bank

RBI expected to tighten key interest rates further in its monetary policy review on Tuesday, the industry remains nervous.

“Higher prices of fuel and rising interest rates are already creating a pressure in the market. Footfalls in showrooms have come under pressure,” Maruti’s managing executive officer (sales and marketing) Mayank Pareek said. Hyundai’s marketing and sales director Arvind Saxena said the bearish trend was likely to continue. “The rising interest rates have led to reduced enquires and the conversion rate too has slowed down,” Saxena said.

Read full story from publisher

Leave a Reply

Your email address will not be published. Required fields are marked *

*