Passenger Vehicle Dealers Face Inventory Crisis Worth Rs 73,000 Crore: FADA

• Passenger vehicle sales have slumped, leading to an unprecedented inventory of over 700,000 units worth Rs 73,000 crore at dealerships nationwide, says FADA.
• The stockpile has increased from 65-67 days in early July to 70-75 days, raising concerns about dealer sustainability.
• FADA President Manish Raj Singhania urges PV OEMs to realign production around retail figures and reduce vehicle supplies to dealers.
• Despite a 10% rise in passenger vehicle sales in July, PV wholesales saw a year-on-year decline of 2.5% due to the high base effect from the previous year.

Source: Business Standard