It is going to be a bitter sweet June for the Indian passenger car market. Despite registering the highest number of June dispatches ever at 3.25 to 3.30 lakh units, Autocar Professional learns that the growth rate for the month is expected to fall to 2.5-4 percent, which is the lowest growth rate in fifteen months.
The high base effect of June 2022 and the parts shortage for fast selling models has pulled down the growth to a low single digit, thereby offering a reality check for the passenger vehicle industry. The growth rate for the April to June quarter too is expected to come down to eight percent, slightly less than one million units, say industry sources. For 12 of the past 15 months, automakers have despatched over three lakh units per month, indicating that the base has become high.
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Denne historien er fra 1st July 2023-utgaven av Autocar Professional.
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