Car sales in the country dropped by around 18.56% during the last month of 2012, the major decline during the past ten month period, actuating industry body Society of Indian Automobile Manufacturers (SIAM) to look for cut in excise duty from the administration.
With export figures also registering the big decline in more than eleven year period, dropping 26.83% last month, Society of Indian Automobile Manufacturers (SIAM) also looked for a stimulus package like the one provided in the 2008-09 slump, saying the industry is “now making entry in a worried state”.
The total vehicle sales in the nation also posted a decline of 3.9% to 13,54,436 vehicles in the month of August, the in over three and half years.
As per the newest Society of Indian Automobile Manufacturers (SIAM) facts, domestic cars numbers during the last month of 2012 remained at 1,18,142 units as against 1,45,066 units during the similar period of 2011, down 18.56%.
SIAM Senior Director Sugato Sen said, “This is the time when wholesale figures should be lifting up as dealers expand to meet up festival period demand, but this has not happened. We are making entry in a worried state. We require assistance from the administration.”
Sugato Sen added that the excise duty on autos that was enhanced in 2012’s budget requires to be cut down, mostly for the commercial vehicles section.
As per reports, there are heavy discounts offered on a lot of diesel cars such as the Volkswagen Polo, Tata Indica, Fiat Punto, Maruti Suzuki SX4, Nissan Micra, Ford Figo, Ritz, and the Mahindra Verito.
The discounts of wide-ranging amounts up to Rs 50,000 also comprise free insurance, additional characteristics, expanded warranty, road side help among others.
“We are offering discounts on diesel models in-line with the market competition. The slowing demand curve has affected sales of diesel cars too and these rebates are expected to keep the sales ticking,” said Ford Motor India president & managing director Michael Boneham.