The festive season, traditionally the most lucrative period for the automobile industry, is experiencing a downturn. While new car and two-wheeler purchases are often considered auspicious during this time, the current scenario is different. According to automobile dealers, a decline of up to 25 percent has been recorded in bookings and showroom visits since the second week of August. Customers are postponing their decisions to buy new vehicles, primarily due to the expectation of a reduction in GST (Goods and Services Tax). Currently, cars are subject to a GST of up to 28 percent, but there are discussions about the government potentially lowering it to 18 percent. This could lead to a direct decrease in car prices, making consumers hesitant to buy now.
