Car Sales Dipped by 8.25 Percent in November 2012

The passenger car sales dipped down by 8.25 percent in November 2012 as per the numbers which were released by Society of Indian Automobile Manufacturers (SIAM), because of certain macro-economics factors such as uncertain climate in the economy, high rates of interest as well as rising fuel prices. The analysts as well as the executives of the car industry opined that the situation would be even tougher in the future.
 
SIAM revealed that the sales of car were 1.58 lakh units in November 2012 against 1.72 lakh units in November 2011. Out of a total of 19 carmakers, 9 reported decrease in volume, which also included the heavyweight car makers such as Volkswagen, Ford, General Motors, Tata Motors, Toyota as well as Hyundai.  

The decline in the month of November is third time in 4 months time period, which has made the car industry nervous about the future as well. It is worth noticing that the number of sales has been there despite freebies as well as discounts. Analysts believed that the customers did not have a mood to buy the vehicles.

It was also believed that in the month of December, the situation could be worse because historically, there have never been higher sales in December in comparison to October and November, which are considered to be festive seasons in India.