Stung by leftover inventory and unsure about consumer spending, India’s auto dealers are worried about having to discount more to boost demand in the upcoming festive season, a representative of the dealers’ body said on Thursday. The double-whammy of higher inventory costs and deeper discounts are a nightmare for auto dealers as that has a … Read more
Mumbai: Passenger vehicle makers have approached auto financiers requesting them to extend the credit cycle for dealers to 90 days from 60 at present, indicating the pressure building up in the retail channels amid slowing sales, which is leading to stock piling up at car dealers. This trend was last seen in FY19, said multiple … Read more
In a first for the bank, State Bank of India, the country’s largest lender, is set to link the commission it pays to car dealers, for sourcing loans, to sales as opposed to the current practice of paying them a fixed percentage as a commission, according to a bank’s internal circular, assessed by ET. The … Read more
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 … Read more
