Indore: The shift in consumers’ choice has led to a rise in demand for compact sport utility vehicles (SUV’s) in Indore lifting sales in the automobile segment though two-wheeler sales failed to pick up amid financing issues and high cost, said retailers.
Monthly car sales in Indore have increased mainly led by bookings for SUVs and electric vehicles, claimed retailers despite prolonged supply issues from companies and long waiting periods.
An automobile dealer Vishal Pamnani said, “Car market has grown in Indore mainly due to a spike in demand for SUVs and EVs. Per month sales of cars in Indore have jumped to around 3,500-4,000 units with the SUV segment growing fast.”
Retailers said the change in customers preference towards compact SUVs and EVs is now driving the automobile sector.
Bookings for cars during the Navratri period stood higher than the past year, said retailers still low on stocks amid slow supplies from companies.
Another automobile dealer in Indore Pravin Patel said, “We saw a jump of around 25 per cent in sales in March on a year-on-year basis. The trend looks better but still supplies from companies are slow and waiting period is high across many segments.”
Retailers pegged the sales of EVs in Indore to around 50-65 units a month as against 5-6 units a month around a year ago.
Unlike cars, two-wheeler sales failed to improve in the market.
Aditya Kasliwal, automobile retailer said, “Two-wheelers market has seen a sharp fall in demand due to back-to-back rise in cost. High down payment requirements and EMIs have made it difficult for the middle and lower middle class to afford it.”
Kasliwal said, the average cost of a two-wheeler has increased by around 40 per cent in the last two years.
