With the moving wheel of time the economic scenario is changing and the car industry is gradually climbing up. There are speculations that after months of falling sales the domestic car market will now drive on a positive track with an expected growth of 3 to 5%.
We all have a misconception that the year 2008 was the worst year for the car industry. But if we estimate and compare the figures revealed by the SIAM then we’ll come to know the actual truth of passenger car sales in 2008. Though the growth rate was slow infact the slowest in the past five years the overall passenger car sales experienced a rise of 1.3% in 2008 as compared to the previous fiscal. Despite of all the challenges and hurdles on its way the domestic car market ended with a positive note in the year 2008.
Now when new cars are continually launching in India with more and more numbers of small compact cars the growth rate is expected to rise further by the end of this year. It is also believed that the key factor that may bring the car industry on a positive track would be the compact cars that are receiving demands from small towns and cities of the country. A wide range of small cars are now not driven within any restricted boundaries but are driving to small towns and are really doing wonders there.
Labels: Car-Sales, Indian-car-industry
2 Comments:
With so many new cars rolling out the Indian car industry is definitely going to recover al the losses it experienced in the previous year. It will also help the market gain profit because all the new cars are really receiving a tremendous response in the country and are amazingly good with all the new and best of features and technologies.
It is good to note that the car industry is reviving. However, marginal it may be. it is important that car sector comes back to teh state it was at the same time last year, else it will have to go back to Ambassador/Fiat Padmini days. It would have turned the clock back for India's car lovers.
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