Dzire, Swift, i20, Nexon, Innova, City, Polo, etc are the cars we often see on road. It takes no time for an uplifted version or sports version of these cars to be sold out. These cars are always in demand and will continue to be in demand. Three are things like quality, durability, reliance, brand trust and many things which compel the customers to buy these and often update to newer versions. It goes same for the bikes; just waiting for the newer version to pop u in the TV ads.
But, have you ever thought about what happens to the cars & bikes that never get sold?
No? Well, it’s time we introduce you to the market of unsold cars.
Back in 2018, automobile dealerships in India were piled up with large unsold cars as higher fuel prices, erratic rainfall and rising borrowing costs which destroyed the demand.
There are many reasons for the cars to end up in godowns. Some of the prominent and most recent being the rise in fuel price, loan issues and raw material costs.
In a survey of eleven dealers of the country’s 5 largest passenger vehicle makers showed average inventory at dealers of Maruti Suzuki India Ltd and M&M Ltd of about 45 days, that is higher than normal levels of 25 to 30 days. For Tata Motors Ltd & Hyundai Motor India Ltd, dealers have got inventories of around 35-40 days.
The scenario has been worsened by increasing dispatches from Maruti Suzuki, as the country’s largest carmaker added a new assembly line of 250,000 vehicles in the Gujarat factory. Maruti’s move provoked others, especially Tata Motors, M&M & Hyundai Motor India Ltd, to follow suit in the last two months, despite low retail demand.
The festive seasons are the only hope for the dealers and it will bring some hope for the unsold cars in the godown. Offers and discounts are provided with free and support services for customers.
Data from 2018
It's not like these automobiles are bad and are not worth buying, it's just that they get overshadowed by their new and updated versions. People are buying used automobiles, which either has a shorter benefit period left or it’s way too old.
But the unsold vehicles are not like that; if you buy them it will be treated as a brand new car with all the added benefit you get with the updated one along with an additional benefit of extra discount which is much higher than what you get in festive seasons.
So next time when you go to the showroom to buy new updated one, just ask them how much additional discount are they ready to give for the unsold older model. You will be surprised, I assure.
Info Source: www.livemint.com
Image Source: Pixaby.com
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I love to read this post about automobile industries! Thanks for sharing such informative blog.
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