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The Indian automobile industry has crossed the important milestone of notching domestic sales of over 2 Cr units for the first time ever. However, Indian automobile industry has witnessed low single digit growth of 3.78 per cent to sale 20,469,385 units in FY 2015-16 against 1,97,52,580 units in FY 2014-15. Fiscal year 2016-17 is expected to be better in terms of overall performance as the auto sector consolidates on the gains of FY’16 and builds further. A number of new model launches and refreshes planned by carmakers should see more action at ground zero.
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