Auto off the pace: Number of unsold cars soars, new bookings decline

The rate of cancellation which used to be an average 10% of the total bookings till a few months back, has increased to 15-20%. There are an estimated 800,000 outstanding orders in the market. The softening trend comes as the pent-up demand that boosted sales in the last two years is dissipating with normalisation of production.

from Auto-Industry-Economic Times https://ift.tt/osSLxYp