Aggarwal's statement comes at a time when the Federation of Automobile Dealers Associations (Fada) raised concerns about growing four-wheeler inventories at dealerships. Last month, Fada had said that dealers were holding approximately 550,000 vehicles, equivalent to a 60-day supply, and that the surplus stock could potentially strain dealers financially due to increased interest expenses.
Car exports from India increased to 180,483 units in the first quarter of 2023-24, recording 18.6 per cent year-on-year (Y-o-Y) growth amid strong demand in key markets, according to data released by Siam on Friday. Domestic sales of cars crossed the 1 million mark for the first time ever. The sales stood at 1.026 million units, up 3 per cent Y-o-Y. (Monthly figures do not include data for Tata Motors.)
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