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India: Car sales growth moderate to 13% in April.
Administrator Tue May 10, 2011 10:37 pm
Car sales growth moderate to 13% in April.
Car sales headed for a slowdown in the short-term with high interest rates and the after-effects of Japan's quake and tsunami acting as dampeners.
The demand is weakening as RBI (Reserve Bank of India) is increasing the interest rates to control inflation. Around 70% of car sales happen through financing route.
The Japanese catastrophe is disrupting the supply chain and has forced companies like Toyota and Honda to cut some production in India.
The industry may pick up from the second quarter (Jul – Sept 2011)onwards. The first quarter (April – June 2011) of any fiscal is generally a low-growth phase.
Car sales in April stood at 162.000, a 13% growth vs. last year.
Two-wheeler sales were healthy as numbers grew 26%.
Car sales headed for a slowdown in the short-term with high interest rates and the after-effects of Japan's quake and tsunami acting as dampeners.
The demand is weakening as RBI (Reserve Bank of India) is increasing the interest rates to control inflation. Around 70% of car sales happen through financing route.
The Japanese catastrophe is disrupting the supply chain and has forced companies like Toyota and Honda to cut some production in India.
The industry may pick up from the second quarter (Jul – Sept 2011)onwards. The first quarter (April – June 2011) of any fiscal is generally a low-growth phase.
Car sales in April stood at 162.000, a 13% growth vs. last year.
Two-wheeler sales were healthy as numbers grew 26%.
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