Indian Automobile Industry – Back in Track?
The first 6 months of the current Financial Year (Apr’16-Sep’16) has been extremely promising for the Indian Passenger Vehicle Industry. PV Sales in India saw a growth of 12.34% vis-a-vis same period last year and posted a volume of 14,94,039 units. Sep’16 especially was encouraging as well – where the sales grew 19.92% and attained the highest volume in over four and half years! Sep’16 car sales stood at 2,78,428 units as against 2,32,170 units in Sep’15. The overall growth was fueled by strong numbers in UV segment and the segment in particular grew by 40.24% in the first half of the fiscal (3,73,504 units compared to 2,66,339 units in the same period of 2015-16). Seeing the trend, we had termed the word ‘UV’ology and find the detailed report here. Other segment sales grew by meager 5.11% at 10,26,526 units in the April-September period as against 9,76,586 units in the same period of previous fiscal.
With the current pace, India is poised to cross 30 Lakh units sales this year. It’ll be the first time India will achieve this milestone and is touted to overtake Germany as the world’s fourth largest automotive market! Let us look at the world’s top Passenger Vehicle Markets basis 2015 sales –
Along with sales numbers, find included the population of the respective markets to highlight the potential India is currently at. We strongly believe that the Indian Auto Industry is at the inflection point of growth and shall see remarkable progress if supported by positive government policies and increase in disposable income of general public.