No dip in luxury car sales despite slowdown in automobile market
EVEN as the sales of vehicles — two wheelers as well as four wheelers — has slumped this year due to market slowdown, the sales of luxury cars (those costing more than Rs 20 lakh) have not been affected much, vehicle registration data with Pune Regional Transport Office (RTO) shows.
A total of 2,149 luxury cars were registered with the RTO until mid-November this year, according to the data. Last year, between January and December, a total of 2,455 such cars were registered.
The automobile market is going through a slowdown with vehicle sales slumping and RTOs getting fewer vehicles for registration. As per information provided by the RTO, between January and August this year, 31,260 cars were registered with the Pune RTO, which were at least 3,000 less than what was registered in the same period last year.
Even during the Navaratri festive season, which is traditionally seen as a big sales opportunity, sales of two-wheelers were badly hit while there was improvement in the sales of cars as compared to sales of vehicles during the same period last year.
As per vehicle registration numbers released by Pune RTO, during festive days of Navaratri and Dussehra this year, during which people often buy gold and new vehicles, 3,852 new two-wheelers and 1,515 four-wheelers were registered with the authorities. During the same period last year, 4,115 two-wheelers and 9,70 four wheelers were registered.
“There is a consistent average of 6-7 luxury cars coming to RTO for registration. This has not changed over the last few years despite sales of other vehicles coming down this year,” said an RTO official.
Last year, Dussehra sales had seen a serious dip (25 per cent) with four-wheeler sales shrinking by more than half when compared to the previous year.
The automobile makers are blaming the dip in sales on the change in policy pertaining to vehicle insurance as well as slowdown in the economy.