Many customers purchase new vehicles on Dhanteras at Nerul in Navi Mumbai on Friday
Rising vehicle prices, inflation and job insecurity appear to have dampened buying sentiment, with the decline coming on the heels of a nearly 26% drop in registrations during Navaratra, signalling a subdued buyers’ sentiment this year. Ashutosh Ganjal, a Vimannagar resident, said he had postponed buying a two-wheeler for his daughter due to rising expenses and concerns over job cuts.
I could have bought the car on Dhanteras but have decided to wait until the end of this financial year,” said a Magarpatta-based professional, requesting anonymity. Since Pune Metro offers decent connectivity, I have asked my daughter to use it to commute to college,” he said. Consumers, meanwhile, cited inflation and job uncertainty as reasons for deferring purchases. I work in the private sector. Given the uncertainty around private-sector jobs, I did not want to take on a loan and risk being unable to repay. “Several companies, including multinational ones, are reducing their workforce, citing AI and geopolitical uncertainties. With layoffs and salary cuts affecting spending, I chose not to buy a vehicle on loan.
“I had planned to buy a car earlier this year, but rising costs made me reconsider.