Budget 2016 – Here’s what India’s Auto Sector wants
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
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.
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.