As dealerships re-open post the lockdown, the customers are cancelling bookings and demand a refund from dealers, according to a report by Economic Times.
Cars are currently being delivered to those customers whose purchases had been completed before the announcement of the countrywide lockdown. However, if reservation cancelations proceed, there will be no pending deliveries left in dealerships in the next few days.
Although dealerships have opened up for business, the customer tend to avoid new purchase. More than 70 per cent of new cars are sold on finance in India, the report says. However, the ongoing pandemic and economic uncertainty has forced clients to maximize their savings and avoid debt.
Dealers are expecting this client trend to increase in the coming weeks. Still, this will rely and depend on ease of the lockout restrictions.
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Source: Economic Times
