Demonetisation: Auto sector in for a rough phase? Vehicle registrations drop in Delhi, WB, Assam in Dec.
The automobile industry, in particular, which had showed signs of rebound earlier this year, is staring at a bleak situation for the next couple of quarters.
Representational image. AP
According to a report by brokerage firm Emkay, states like Delhi, Assam and West Bengal are worst affected and have seen a sharp drop of 32-37 percent in vehicle registrations in the first week of December compared with last week of November. The state of Uttar Pradesh, too, had also seen a decline of 42 percent in first week of December.
Further, in the second week of December, Delhi, West Bengal and Assam saw a sharp drop of 45-73 per cent over the last week of November, the report said.
