Half-yearly auto sales remain sluggish

As the entire auto sector, barring tractors, faced a steep fall in sales ranging from 14 per cent to 56pc during the first half of 2023-24, the general elections on Feb 8 also failed to lift the sales of Toyota pickups, jeeps and SUVs. Surging prices along with unprecedented interest rates turning car financing into a more expensive ride have continued to cast gloom on sales. Total car sales plunged 56pc to 30,662 units during July-December FY24 from 68,912 units despite a slight rise in December 2023 sales to 4,916 from 4,875 units in November 2023. Sales during December 2022 were 13,780 units. Honda Civic/City sales plunged to 3,938 units from 8,906 units, down by 56pc while Toyota Corolla and Yaris sales also fell 56pc to 5,279 from 12,065 units during 6MFY23.