The worst Diwali of the decade for the auto sector this year
MUMBAI: This Diwali has been the worst Diwali of the decade for the automotive industry in terms of sales. According to the Federation of Automobile Dealers' Association, vehicle registrations in October fell by 4.5 per cent year-on-year. According to the association's data, a total of 13,8,8 vehicles were registered in October, down 3.8 per cent from 12,81,8 registrations in the same month a year ago. In October 2016, 18,50,08 vehicles were registered. Speaking of the three-day festive season, the organization said that this Diwali season has been the worst for the auto sector in a decade. The annual sales of all vehicles during the festive season has come down by 12.5 per cent to 20,50,8 units which is 20.5 per cent less than the year 2012. In the festival seasons of 2020 and 2017, 4,6,8 units and 4,50,8 units of vehicles were sold respectively. Vehicle sales have declined due to rising petrol-diesel prices and low manufacturing due to shortage of semiconductors. During ...