Markets in for a self-correction mode with an increase in prices

The new rules that have baffled and rattled the industry towards reaching their sales targets have been a bite from the coveted apple for the consumer in the day as they have seen a massive discount arena in the market to choose from and though it has been hard on the automotive manufacturers in the country, the sales reign hasn’t been pulled to put into perspective the ordeal of a growth recession which has been led by internal demands of the country to tackle a global slowdown crises in the making. BS-VI and the age limit for the old vehicles enshrined in the Motor Vehicles Act, 2019 (MVA-2019) have been identified as a major blockade for the sales figures to rise as the customer awareness regarding the new oncoming technologies doesn’t exist to the quantum of the required levels in the market, and that is one of the reasons why market forces have been rendered bearish in the trading sessions on the stock market as well as the physical outlets to help the company grow.

Many industry leaders believe that the automotive markets have already bottomed out and now is the revival phase which the companies are looking to country head-on but with so much development already poured into the building of new technology and that cost enumerated in the rise in the prices of the products available on sale cannot be neglected through the prism of loss-making in the past, almost every major auto manufacturer has indicated an increase in price for its products effective from the new year and will help control the technological abruption narrative from both the suppliers and the consumer ends.