In CY2018, Most of the Indian automotive
segments are expected to grow in high single-digit or in early double-digits posting
an average 8-9% growth.
Passenger
vehicles are likely to continue their uptick sales backing on utility vehicles
with a growth of 9-11%. Two-wheelers, on the other hand, are expected to
plateau out at 9% while the growth in medium and heavy commercial vehicles is pegged
at about 8-9%.
In the short-term, light
commercial vehicles (LCV) are expected to deliver a better showing than
M&HCVs, due to improving economy and need for intermediate distance
transportation. Thereby Indian GDP will grow at 7.2% in 2017-18, compared to
6.8%in 2016-17 giving the required leeway for varied sectors. India has already
posted a recovery in economic growth at 6.3% during the second quarter of FY18
(July-September 2017), up from 5.7% during the first quarter (April-June 2017).
In addition, there are positive
signals of the rural markets coming back on track after two good monsoon years,
better crops and more disposable income in the hands of the rural populace
raising the demand for motorcycles, utility vehicles, three-wheelers and LCVs in
this region.
Fresh investments in
infrastructure and road development will give a further fillip to the
commercial vehicle sector as will stricter regulatory norms related to vehicle
length and overloading.
This has been coupled with a
promising showing in the urban markets, which are expected to sustain this
strong momentum well into the New Year 2018.
With new
passenger/ commercial/two-wheelers vehicle industry rising, we can witness the
robust growth of used automotive industry as well. Shriram Automall IndiaLimited (SAMIL) is the leading name to acquire best pre-owned commercialvehicles of every make and model in India.
So, what are
you waiting for? Visit your nearby Automall today or click the link below to
register yourself.
Link: www.samil.in
Download MySAMIL Mobile App: https://goo.gl/BMpnCf
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