Auto portal CarDekho.com has said that there has been a 27% decline in traffic after the government announced the withdrawal of R500 and R1,000 notes on November 8.
Mobile-based website traffic has been the most affected, dropping nearly 50% on November 8 from the previous day’s peak traffic. The dip in old-car search is considerably significant and reflects the industry’s forecast that the segment, being the most cash-dependent, has felt the maximum impact of demonetisation, the company said.
The average traffic for used cars witnessed significant drops across CarDekho.com’s Web, WAP and app platforms between November 9 and November 15, compared to the corresponding five-day period before the government announcement. The traffic data analysis indicates 20% and 30% down slide in new and used-car segments, respectively.