Passenger vehicle (PV) dispatches grew 4.1 per cent, the highest ever in November even as retail sales fell by 14 per cent during the same month. This may lead to further rise in inventory levels if retail numbers do not pick up in December.
According to data from the Society of Indian Automobile Manufacturers (Siam), 347,522 units of PVs were dispatched by original equipment manufacturers (OEM) in November, a growth of 4.1 per cent over the previous year.
The festivals were split into October and November in 2023, indicating a high base. This can lead to a rise in inventory levels at the dealer end as retail sales in November have been sluggish.
Federation of Automobile Dealers Associations (Fada) noted earlier this week that weak market sentiment, limited launches and the early festival push in October dampened November's performance.
"Despite inventory correction (down by around 10 days), stock levels continue to remain high at 65-68 days. Fada continues to urge PV OEMs to rationalise supply to ensure a healthier inventory position entering the New Year," it had said.
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