India’s passenger vehicle sales are anticipated to increase by as much as 9 percent in fiscal 2017-18, before stabilizing at a greater development rate in the coming years, the country’s auto market body stated.
This year (from April 1), demand is possibly to be disrupted because of the intro of a unified tax system and a move to selling recent technology, Euro IV-compliant vehicles that will rise costs, said Sugato Sen, deputy director general at the Society of Indian Automobile Manufacturers (SIAM).
Moving forward, Sen anticipates passenger vehicle sales boost to stabilize in the low double-digits.
Passenger automobiles sales increased 9.23 percent to cross 3 million units last ending March 31, the greatest in 6 years, SIAM noted, as demand recovered in January following India’s “demonetization” in the last months of 2016.
Sport-utility vehicles comprised about a quarter of overall passenger vehicles sales last financial year as customer choices moved far from sedans to SUVs.