One of the most severe impacts of the recent demonetization of the high-value currency notes has been felt on the ‘discretionary’ spends segment, basically spends that are not essential and that can be put off for later. Purchasing a personal vehicle comes under this segment, and to that end, there has been a huge visible impact on the sales figures of the Indian car industry in general and the private vehicle segment in particular as a result of the demonetization.
