Waning Demand Expected to Hit Breakneck Rally in India's Auto Stocks
- A sizzling rally in India’s auto shares is reversing as unsold vehicles and growing discounts pressure profit margins. - India’s NSE Nifty Auto Index is down 4.1% in August, more than double the decline in the Nifty 50 Index. - Passenger vehicle inventories have surged to historic highs, and waiting periods for some models have nearly vanished. - Increased competition among carmakers has led to price cuts, raising concerns about sustaining robust sales post-pandemic. - The market’s next test will be during the festival season, but expectations for a major turnaround are low. Source: [Business Standard]()
Good riddance. The car market in the country has been a bloody scam for the last few years and although I don't expect things to improve they will not probably deteriorate anymore.