This decrease occurred as carmakers had to rationalise dispatches amid high GST COLLECTIONS RISE 10.3% TO 1.82 TRN IN JULY P4 dealer inventories.
Sales for TKM and M&M, however, rose by 42.25 per cent and 15 per cent, respectively, while MSIL, Tata Motors, and HMIL saw declines of 9.6 per cent, 6 per cent, and 3.3 per cent, respectively. In July, rating agency ICRA reported that inventory holding at PV dealerships increased to 62-67 days (compared to an average of 30-35 days) as of June 2024.
According to the Federation of Automobile Dealers Associations, this rise was due to steady production and a slowdown in retail sales due to extreme heat and the Lok Sabha polls impacting retail footfall. "Inventory levels are expected to remain elevated in the near term, impacting dealership margins," ICRA added.
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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