Sales of automobiles are decreasing and dealers are shutting off their businesses
According to the sources automobile industry is going slowdown. Data from Federation of Automobile Dealers Association states that in last month in about 271 with 245 passenger dealerships have been shut down.
The famous metropolitan cities of India have the closure of dealership in following manner:
These cities have most of the rich people living in but the declined in sale shows the least interest of our countries citizens.
Big car companies faced many big shut downs in last 18 month which are mentioned as follow:
Tata Motors: 20
There are many reasons which are there to be mentioned but on an out-look some are as- bank turning cautious on working capital loans, tight liquidity, channeling of funds into real estates by some dealers and slowdown in vehicle sale obviously.