Passenger vehicles sale have reached up to the hike of 3.8% in September. It has expected to grow by 6-8 % for the year. SIAM the Society of Indian Automobile Manufacturers has stated that there wont be any hike during the festive season but it could happen till the end of fiscal year. Auto manufacturers have sold almost 2.6 million vehicles that has given a increase of 3.6%.
SIAm tells that probably medium and heavy duty vehicles will have a bounce in the sale to go to the double digit percentage by the end of fiscal year. But 2 wheeler sale will remain almost flat. 2 wheeler sale have remained flat and almost negative in few past months falling to 1%. Majeed partners at price Water House said ” The Indan Automotive Industry is a bit far from its actual potential and in September 2015 passenger vehicles have shown a driven by its launch of SUV and Hatchbacks.”
SIAM is hopeless for any change in this trend for the festive season period and has expected that the hike will be seen in march itself as reported by Deputy General Sugato Sen. While the Indian economy is gaining its stands but automobile industry still needs a regular pace to come up.