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The numbers tell a sorry tale. Auto sales in November this year have fallen by over 50% as compared to November last year. The same is the story with two wheelers. The sales have plummeted by over 40%. And the dealers say there is no end in sight. Stocks are piling up, and fewer prospects are walking in into the showrooms says Rohit Khandelwal a loan officer for a leading nationalized bank. Lucrative offers from dealers are also not enough to entice customers. “I cannot think of committing for a 3-year EMI on a car if I am not sure about my job lasting for 3 months” says Archana Balaji who works for a leading pharmaceutical Company. The usually reliable small car segment also has taken a hit. This is the fastest moving segment in the auto sector and the figures here too are not encouraging – in fact the drop is faster here a whopping 47%. Leading auto manufacturers are trying every trick in the book. Maruti is reportedly planning to launch its small car the 800 in a taxi version. The only ray of hope is the luxury car segment. But even here the numbers are way too small to have any significant impact on the market.
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