Mexican Media Brands
Study: Fuel Price is Main Driver of India Car Sales
Fuel prices are the biggest factor in determining sales of new cars and commercial trucks in India, according to the country’s central bank.
#economics
Share
Fuel prices are the biggest factor in determining sales of new cars and commercial trucks in India, according to the country’s central bank.
The Reserve Bank of India analysis says last year’s tougher insurance rules also dampened growth in car sales. The bank adds that the availability and cost of credit appear to have no lasting impact on demand.
The study analyzed the Indian car maker between 2015 and 2018. It concludes that an increase of 100 basis points in fuel prices results in a 72-point decline in car sales growth two months later.
RELATED CONTENT
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.