Indian car dealers’ sales unexpectedly drop in December, industry body says
Jan 7 (Reuters) – Indian car dealers clocked a surprise 2% drop in sales in December, with high year-end discounts boosting demand only for a handful of showroom owners, a dealers’ body said on Tuesday. Sales dropped to 293,465 units in the month from 299,351 units last year, according to data from the Federation of Automobile Dealers Association (FADA). At the start of December, about 80% of FADA’s members had said in an online survey that they expected sales to be flat to higher for the month, recovering from a 14% drop in November. However, demand failed to pick up