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You are here : IndiaNotes >> Research & Analysis >> Industries >> Auto >> Research

Auto Sector Grows Firm on the Upcoming Festive Season

Dynamic Equities Pvt Ltd | 16 Sep, 2016  | Follow Author | Add to my Favourites 
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The Growth Inputs


The study indicates a strong revival in demand, backed by improved rural sentiment as well as the increasing urban demand due to increase in wages of government employees.


As per the data available with Society of Indian Automobile Manufacturers (Siam), domestic sales of passenger vehicles such as cars, utility vehicles and vans grew 16.7 per cent from a year earlier.


This was helped by strong performance from auto giants Maruti Suzuki, Mahindra, Toyota and Renault. These companies have stepped up wholesale dispatches to stock dealerships to match up with the festive demands.

Sales in the April-August period, first five months of the financial year, have improved by 11 per cent. Sales growth in September and October are expected to be higher.


A significant 26 per cent growth has been witnessed in the sales of the two wheels sectors. Motorcycles (bulk) volume increased by almost 22 per cent; scooters volume grew by 34 per cent.


Sales of light commercial vehicles grew 11 per cent in August to reach 32,459 units. Goods carrying LCVs grew 12 per cent to 28,635 units, while passenger carriers grew six per cent to 3,824 units.


The decline of medium and heavy commercial vehicles


The sales of medium and heavy commercial vehicles have continued to decline. Within this segment, goods carriers declined by almost 18 per cent to drop till 16,437 units. However, passenger carriers grew 35 per cent to reach 4,100 units.


According to Vishnu Mathur, director general at Siam, strong fleet replacement demand was driving growth and demand had been met. “This demand might come again, later this year”, he added.


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About Dynamic Equities Pvt Ltd

Dynamic Equities Pvt. Ltd. is a a SEBI Registered Investment Advisor and Stock Broker, a leading financial services provider, and one of the major players in the Equity markets in India. With an experience of over 15+ years in Stock Markets and Equity Research, they provide daily updated Support & Resistance of 4200 instruments across 93 exchanges and 56 countries globally. They have an in-house team of over 25 analysts. Under the guidance and mentorship of Mr. Shailesh Saraf, MD of Dynamic Equities Pvt. Ltd., these analysts are dedicately involved in guiding their clients and users of the website www.dynamiclevels.com for trading in the market. Mr. Shailesh Saraf has an experience of over 24 years in the financial market, especially in capital & derivatives market operations, trading, research and management related areas. Dynamic Levels is a website owned by Dynamic Equities Pvt. Ltd. The website can be reached at www.dynamiclevels.com.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.




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