PUNE: The Federation of Automobile Dealers Associations or FADA, the top body of automobile retail industry, on Tuesday said passenger vehicle or PV manufacturers continued to reduce wholesale billing to dealers as well as regulated production in June, which helped dealers to address their high inventory levels.
With this trend continuing for a couple of more weeks, inventory in PVs will for the first time since the downturn will come down to healthy levels of around four weeks across many markets.
FADA said retail sales of PVs in June fell 4.6 per cent to 2,24,755 units as compared to the same period last year, hit by liquidity issues and delayed monsoon.
The dealers had sold 2,35,539 units in June 2018. However, in the April-June quarter PV sales dropped only by one per cent at 7,28,785 units, down from 7,36,290 units sold last year.