According to data provided by Jato Dynamics, and reviewed by Business Standard, 160,423 units were sold in Gujarat in H12024, a 0.1 per cent year-on-year (Y-o-Y) increase. During the same time period, however, the Y-o-Y growth in the other major six states Maharashtra, Uttar Pradesh, Karnataka, Haryana, Tamil Nadu and Rajasthan stood between six and 13 per cent, data showed.
According to auto executives, dealers and sector experts, multiple factors have led to growth saturation in H1 this year. This includes high car penetration in the state, postponement of Ratha Yatra (chariot festival) from June last year to July this year, extreme heat, election season, customers waiting for more discounts during the festival season as dealer inventory remains high, and customer preference for buying cars in the second half of the year.
This story is from the August 02, 2024 edition of Business Standard.
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This story is from the August 02, 2024 edition of Business Standard.
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