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Low per capita income states such
as Bihar, Madhya Pradesh, Odisha, Rajasthan, Uttar Pradesh and West Bengal,
have witnessed automobile volume growth in the current fiscal, credit of which
goes to the equalizing effect of GST, rising female literacy and people having
more money to spend in rural areas.
The per-capita income of the six
states ranges from $990 to $1,600 compared with India’s average of $1,800 thereby
they account for a third of the country’s GDP. In various categories in the
first half of the current fiscal, these six states outperformed industry growth
by 7-15%. The states account for nearly 23-45% of total sales volume depending
upon the vehicle category.
Monsoon along with GST helped the
demand for automotives boost, as having a good monsoon season in rural areas
create a positive effect in consumer sentiment towards the ownership of
vehicles. Also, prior to GST, producing states had a tax advantage of 3-5 percentage
points.
After remaining flat year-on-year
in the six months to September 2016, real rural wages grew 3.3% in the second
half of the last fiscal. It improved by 4.6% in April-September 2017, the
fastest pace in four years. The number of schemes covered under DBT has
increased from 59 in FY16 to 140 in FY17. It has further gone up to 393 in FY18
so far. Further in addition to this, government targets to cover all 534
schemes under DBT by March 2018.
In some areas especially West
Bengal, rising female literacy is said to be a driving force as more girls and
women take to scooters for mobility resulting in the growth of automotive
demand in the area.
With increase in new automotive
sales in the area, used vehicles and equipment also witnessed the boost.
Shriram Automall India Limited (SAMIL) being the No.1 used vehicle andequipment provider, while anticipating the consumer demand in and nearby these
areas, provided them with the best in class used vehicles and equipment of
every make and model.
So, what are you waiting for? If
you want to acquire your desired car, bike, scooty, truck etc. at optimal
prices, go for SAMIL used range, as while acquiring used, you don’t have to
worry about its value being depreciated or it being hard on your pocket.
Hurry and click the link below to
register or download MySAMIL Mobile App to learn more about us.
Link:
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