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Nirmal Bang Report
Wholesales for September were on expected lines as the channel had sufficient room for inventory built-up.
Also, original equipment manufacturers want to ensure no retails are lost due to insufficient inventory.
Retails were lower YoY in September due to Shraadh and Adhik Maas periods giving OEMs an opportunity to build inventory.
Retail sales in October till-date have been on a lower side. However, retails are expected to improve from next week onwards with the start of the festivals.
Footfalls and enquiries have been 15-20% lower compared to last year, which is a cause of concern.However, the quality of footfalls has improved looking at the seriousness of potential customers.
Thus, the conversion rate is expected to increase going forward by approximately 100-200 basis points from normal level of 12-14%.
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