Imported Cars market down in India
In India imported cars sales going in slow lane and now the luxury car lovers need to wait longer to get the imported luxury cars especially with the car manufacturer like Honda, Toyota, BMW and Mercedes-Benz as these manufacturers decided to import the cars only for the confirmed bookings. Due to the decline in demand and fluctuation in currency rates had forced the auto manufacturer to stop importing its vehicles and these auto majors will now shipped to India only for the confirmed orders from customers.
Japanese auto major Honda did not sell a single Honda CR-V in the period of April - June and it forced Honda to stop importing any more Honda CR-V model that was once the larges selling petrol SUV in Indian market. Due to the fluctuation in currencies Honda hikes the price of Honda CR-V near by Rs 3 lacs. Similarly, other hot selling SUVs like Toyota Camry and Toyota Prado will be imported only against the direct customer booking.
These luxurious cars manufacturers already burnt their fingers by selling the inventory at a discount. “In past, we have sold piled up stocks at a discount. We are avoiding that situation now,” a BMW India spokesperson said. Mercedes-Benz India has decided to keep its M-Class while the sportier SL-Class and SLK-Class under the customer orders category. Troubled American car maker General Motors imports its SUV Chevrolet Captiva only when the customers pay for the vehicle.
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