Registration of two-wheelers at the regional transport department has recorded a plunge since the government announced the demonetisation of Rs 500 and Rs 1000 currency notes on November 8.
Dealers said they have only managed to sell one or two vehicles since the currency rollback announcement, since customers hardly visit showrooms.
According to official statistics of the regional transport department, nearly 1,520 two-wheelers were registered during the first eight days in November. This figure fell further and only 327 were registered from November 9 to November 14, the next day being a local holiday.
“There has been a dip in sales and the effect will further be seen. There are very less registrations going on and dealers have also reported low sales during these days,” said Vishwajeet Pratap Singh, additional regional transport officer, Ghaziabad.
On an average, the department registered nearly 190 two-wheelers during the first eight days of November. The average registrations fell down at around 54-55 from November 9 to November 14.
One of the major two-wheeler dealers at Sahibabad Site IV industrial area near Vasundhara said that prior to demonetisation, the showroom witnessed an average sale of 10-12 two-wheelers per day.
“Nowadays, there are hardly any customers and the average has reduced to just one vehicle per day. That too, because of the fact that there are marriages coming up and people want to gift. Customers are already rushing to banks to get the minimum amount and not willing to take up vehicles at present. Still, our operational expenses are continue, with which we have to pay up to workers, staff, maintenance etc,” the showroom owner said.
“There are a lot of customers who are coming and trying to push old notes. However, we are optimistic that things will recover and more use of plastic money will also help us out as we don’t have to carry large amount of cash. Yesterday, I had Rs 8000 only with me and was travelling very peacefully in my car back home,” he added.
Some of the other dealers near Meerut Road also reported a steep decline in sales and said that the sales of high-end bikes have also reduced considerably.
“Earlier, the sales were 15-20 vehicles now it is just 3-4 vehicles a day. Most customers who are coming are bringing cheques or transacting though cards. We still expect that this is a temporary phase and things will recover soon,” said YK Saluja, director of a two-wheeler showroom at GT Road.