STRONG TRACTION FOR SUVs, growth in rural buying and the ongoing marriage season have pushed May automotive sales volumes to the best level since January,allaying fears of a demand slowdown following multiple interest rate hikes and inflationary pressures.
The passenger vehicle (PV) market is estimated to have clocked sales of 340,000 units, a growth of 14% during May, which is the highest since January when the industry sold 346,000 units. Though the pace of new bookings has softened barring the incremental booking for new launches, the industry cleared pending orders.
Eight carmakers who control 95% of the country's PV market, sold 322,846 units during the reporting month, a growth of 16% year-on-year (y-o-y). The industry is estimated to be sitting on pending orders of around 675,000 units.
Bu hikaye Financial Express Mumbai dergisinin June 02, 2023 sayısından alınmıştır.
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Bu hikaye Financial Express Mumbai dergisinin June 02, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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