Automobile Sector’s Resurgence after Demonetization

Over FY06-16, Automobile sector faced the fastest growth at CAGR of 9.4%. Out of which two-wheelers faced the fastest growth of all i.e. at CAGR of 10.09% due to increase in number of young drivers.

Just two months into the New Year & Automobile sector is facing quite impressive growth. Where the 2017 Union Budget announcement is being slated, automobile sector is keeping an optimistic approach towards it as it aims to boost the sector.

The Union Budget will give boost to the economy, especially rural and infrastructure. With an outlay at Rs 3.96 lakh Crs & complete focus on Infrastructure, would be a positive for commercial vehicle industry as it will boost the demand of both commercial vehicles & equipments.

After demonetization in November’2016 automobile sector faced sudden downfall, but now industry is making up for that with fast sales. We can see sale resurgence indication in January’2017 only by the overall Passenger Vehicle (PV) sales that totaled up to 265,320 units to notch 14.40 percent year-on-year growth, February sales of 2017 followed the same direction as well.

Total of 21,086,185 vehicles including passenger vehicles, commercial vehicles, three wheelers & two wheelers were produced in April-January 2017 against 19,882,485 in April-January 2016, while registering a growth of 6.05 percent.

This month the country's leading carmaker Maruti Suzuki India has announced 27 per cent growth in overall sales. Maruti Suzuki sold total of 120,599 units, in January 2017.

Second largest carmaker Hyundai Motor India Ltd. too logged higher sales number with total of 42,327 units. Honda Cars India sold a total of 14,249 units in February 2017.

Every known carmaker in the industry is making an exceptional progress we are proud to look at.

Shriram Automall India Limited (SAMIL) who deals in used automotive & equipment segment understands that ratio of every new vehicle to used vehicle is 1:1, as every new vehicle sold becomes a used vehicle asset for them, thus helping the auto industry while positively contributing to GDP (gross domestic product).

With the new union budget which is focused in direction of rural & industrial sector, SAMIL is there to provide best quality used vehicles & both equipments (construction & agricultural) of all make and brand at optimal prices. On the top of all this with coming GST bill excise duty and state levels taxes like sales tax, road and registration tax would all be subsumed into one which will make the process of buying used vehicles even cheaper & with the company like SAMIL, one can surely look forward to face the best experience of all time while closing the deal involving both corporate core values & all newly amended bills regarding the same.

If you are an interested buyer or seller who is looking forward to acquire or dispose a pre-owned vehicle or asset, SAMIL is your best choice. You can simply register yourself through the given link or download “MY SAMIL APP” with easily accessible interface for your convenience.