Car retail sales in the month of May saw a dip of one per cent compared to May of 2023
Data from Federation of Automobile Dealers Associations shows retail sales slid marginally in the month
FADA puts part of the blame on heatwave in many parts of India during the month of May
Excessive heat usually means lower footfall at showrooms which, in turn, impacts sales
The uncertainty around Lok Sabha elections are also pointed to as a factor
During election months, potential buyers tend to put off purchase decisions to a later date
FADA however predicts the market to return to normalcy now that the results of the elections are declared
An above-normal monsoon has been predicted and this is another good sign for robust rural market demand
FADA is cautiously optimistic and says while deals and offers on cars are great, no new models could be a concern