NEW DELHI: A 'double Diwali' in 2017 — on the back of advancement of purchases because of the GST rollout — ensured that automotive and SUV gross sales rose the quickest since 2013 and crossed the 3-million mark for the primary time ever. Even the demonetisation blues could no longer curb spirits as new models — particularly SUVs — and engaging reductions aided the close to 10 in line with cent surge in volumes.
According to initial trade estimates, passenger vehicle gross sales in 2017 grew by means of 9.2 in line with cent to nearly 3.2 million against 2.9 million gadgets in 2016. "These are initial estimates, and the final numbers could be even higher," an trade supply said.
The expansion comes regardless of doubts at the start of the 12 months over the place the trade had been heading. The start of the 12 months was once just about at the height of demonetisation (announced on November 8, 2016) and consumers — in need of cash — had been heading off showrooms and new purchases.
"The industry has done well, and we are looking forward to the new year now," Maruti chairman RC Bhargava told TOI. The corporate bought a record 1.6 million automobiles in 2017 at a expansion of 15 in line with cent, and this intended promoting one in every two automobiles.
After the initial fears around demonetisation, things started turning around as pent-up call for was once unleashed on fears of a duty hike within the GST regime that was once rolled out from July. Rakesh Srivastava, director (gross sales & advertising and marketing) at Hyundai India, said, "The GST implementation had led to uncertainty and fear in the minds of people who thought that prices will go up. This led to strong growth in April-June period."
Another factor that aided the call for was once excellent monsoon that saw excellent uptake in rural and semi-urban areas. Sugato Sen, deputy DG at trade frame Society of Indian Automobile Manufacturers (Siam), said, "On an average, rains were much better than the last two-three years. This helped in realising higher rural demand."
Company executives said that the festive season also remained "fruitful", which helped within the continuation of the momentum. "Even as we have crossed an all-time high, we expect 2018 also to be good. The economy should do well, and help the market respond positively," Sen said.
SUVs had been a large driving force in boosting the call for for passenger vehicles, and much has been using on models reminiscent of Maruti's Brezza, Hyundai's Creta and the newly-launched Jeep's Compass.
According to initial trade estimates, passenger vehicle gross sales in 2017 grew by means of 9.2 in line with cent to nearly 3.2 million against 2.9 million gadgets in 2016. "These are initial estimates, and the final numbers could be even higher," an trade supply said.
The expansion comes regardless of doubts at the start of the 12 months over the place the trade had been heading. The start of the 12 months was once just about at the height of demonetisation (announced on November 8, 2016) and consumers — in need of cash — had been heading off showrooms and new purchases.
"The industry has done well, and we are looking forward to the new year now," Maruti chairman RC Bhargava told TOI. The corporate bought a record 1.6 million automobiles in 2017 at a expansion of 15 in line with cent, and this intended promoting one in every two automobiles.
After the initial fears around demonetisation, things started turning around as pent-up call for was once unleashed on fears of a duty hike within the GST regime that was once rolled out from July. Rakesh Srivastava, director (gross sales & advertising and marketing) at Hyundai India, said, "The GST implementation had led to uncertainty and fear in the minds of people who thought that prices will go up. This led to strong growth in April-June period."
Another factor that aided the call for was once excellent monsoon that saw excellent uptake in rural and semi-urban areas. Sugato Sen, deputy DG at trade frame Society of Indian Automobile Manufacturers (Siam), said, "On an average, rains were much better than the last two-three years. This helped in realising higher rural demand."
Company executives said that the festive season also remained "fruitful", which helped within the continuation of the momentum. "Even as we have crossed an all-time high, we expect 2018 also to be good. The economy should do well, and help the market respond positively," Sen said.
SUVs had been a large driving force in boosting the call for for passenger vehicles, and much has been using on models reminiscent of Maruti's Brezza, Hyundai's Creta and the newly-launched Jeep's Compass.
Car sales grow highest in 4 years to cross 3 million in 2017
![Car sales grow highest in 4 years to cross 3 million in 2017]()
Reviewed by Kailash
on
January 02, 2018
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