Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
According to a statement released by the Automobile Dealers Association of India (FADA) on August 22, the Indian automotive industry is facing a surge in unsold passenger car inventory of 70000 units, with a total value of $8.7 billion.
The unprecedented increase in inventory has forced Maruti Suzuki India SN400B steel Limited (MSL), the largest car manufacturer in the local market share, to officially announce production cuts.
According to FADA data, the average inventory holding period of dealers increased from 65-67 days to 70-75 days in July.
Although passenger car SN400B steel production increased by 7.4% to 49600 units in the first quarter of the 2024-25 fiscal year (April to June), sales volume, i.e. shipments from factories to dealers, only increased by 1.2% to 42700 units.
An employee of MSL said that compared with other times of the year, the Indian market is usually weak in the first quarter, but this year, due to elections, high temperature, rainstorm and other bad weather, demand is weaker than expected SN400B steel.
