Budget 2016 – Here’s what India’s Auto Sector wants
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Budget 2016 is just round the corner. Going by the stats, India has the potential to become a manufacturing hub for international companies. That will help not only in increasing employment, but will also pump significant capital into the economy.A strong upward curve in the sales of commercial vehicles and consistent growth in the passenger car volumes has boosted India’s
Passenger Vehicles:
Report: Passenger Car volumes have shot up for over a year straight – 14 months to be exact. The segment saw a cumulative growth of 9%. However, this effect is limited to the two segment leaders- Hyundai and Maruti.
To Do: Industry needs steps to boost infrastructure.
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Report: The two-wheeler market has seen a slowdown. It’s fell 2.5% in the April-December period.
To Do: If the government pours something into the rural sector, numbers will shoot up again.
Report: Commercial vehicle volumes jumped 8.5% in the April-December period. They’ve been doing well. Medium and heavy commercial vehicles can repeat the 30% volume hike, just like in 2015, but with the appropriate measures.
To Do: Invest more in infrastructure, just like in Budget 2015.
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