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New-Car Sales in India May Rise 9% This Year
Positive economic growth and improved consumer sentiment will hike India’s demand for new passenger cars 7%-9% in the fiscal year that began April 1, the Society of Indian Automobile Manufacturers predicts.
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Positive economic growth and improved consumer sentiment will hike India’s demand for new passenger cars 7%-9% in the fiscal year that began April 1, the Society of Indian Automobile Manufacturers predicts.
Domestic passenger vehicle sales in the previous fiscal year grew 7% to 2.79 million units, SIAM notes. The trade group forecasts that deliveries of commercial vehicles, which climbed 12% to 685,700 units last year, will rise 4%-6% in the current 12-month period.
SIAM tells reporters in New Delhi that lower borrowing costs and pent-up demand following India’s abrupt demonetization last December will offset the damping effect of higher fuel prices.
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