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India's passenger vehicle sales to pick up pace after growth slows

India's passenger vehicle sales are expected to grow between 3-5 percent in the current fiscal year, after expanding at the slowest pace in five years last year

Reuters  |  NEW DELHI 

Vehicular collisions kill about 150,000 every year in India
Domestic passenger vehicle sales rose 2.7 percent in the 12 months to March 31, according to data released by the Society of Indian Automobile Manufacturers (SIAM)

 India's passenger vehicle sales are expected to grow between 3-5 percent in the current fiscal year, after expanding at the slowest pace in five years last year, the country's auto industry body said on Monday.

Domestic passenger vehicle sales rose 2.7 percent in the 12 months to March 31, according to data released by the (SIAM), in a sign of cooling demand even in one of the world's fastest growing

The growth of car sharing, low availability of funds and uncertainty linked to the upcoming Indian have weighed on sales in the second half of last year, SIAM said.

"Post-election things will be better," Wadhera said, adding that he also expects a boost in sales before the implementation of stricter emission norms from April 2020, which is likely to increase

The industry group forecasts commercial vehicle sales growth of between 10 percent and 12 percent this fiscal year, with sales for two wheelers to grow by 5 percent to 7 percent.

 

 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Tue, April 09 2019. 08:20 IST
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