When I received an Email regarding sales of second hand cars, there was something gotten inside me to research upon. I researched for a long time and was not only shocked with car manufacturing firms bearing losses but also confused. I thought for a while as why so many political parties are concerned about car sale? When I found out that there’s also lesser or decreased manufacturing of cars. The industry not producing more cars and bearing losses. It’s also shocking to know that second hand car buyers are also decreasing.
When you know that most of the people in India do sell their cars to buy new ones. But when there are no buyers for even second hand cars then the car industry is affected with this too.
People in India cannot able to sell their cars as second hand because they’re not finding second hand car buyers. Govt when asked about the sudden surge or slowdown in car sales said that people prefer traveling on Ola. This is precarious reply from the govt as the answer lies in the worsening of Indian economy. The govt is giving lame excuses to whatever they’re asked. They’re misguiding the people overall. One might also cannot understand the suicides of farmers increased since 2014. The demonetization killed many businesses. After all it’s the business people who prefer to buy cars.
Car Sale Decline & Govt Policy
The furor for the current govt by the people in India cannot be explained in parallel way. The words from govt and govt’s work slide down whereas people go up having knowledge and awareness that they’re misguided. Misleading the people and favoring one religion by the govt cannot please the people for a long time.
The decline in car sales is all about the tough situation the banking system currently facing in India. Depositing in the banks has been reduced to a new low while withdrawing of money continues to trouble banks. NRI’s send money from abroad and that amount in full gets withdrawn as soon as money gets credited. Dependents are also cleverly not saving their money in the banks and keeping with them handy. In other words they’re just choosing multiple banks to save their money and not huge amount that used to be saved before 2016. Unfortunately, the demonetization in India was done by the Narendra Modi govt on Nov 8, 2016.
India finds itself an economically backward country in the globe. And thus, there’s a sudden decrease in car sales which’s going on and on.
Khalid M Raza
