Good September for auto Industry
Rohan Takalkar / 03 Oct 2017
Auto industry reported a mammoth double digit growth in September. The drivers of such high-paced growth were Indian festivals (Navratri and Dusshera) which are considered auspicious for purchase/booking of vehicles.
Auto industry reported a mammoth double digit growth in September. The drivers of such high-paced growth were Indian festivals (Navratri and Dusshera) which are considered auspicious for purchase/booking of vehicles. Also, launch of various models in each segment and positive GST impact on low range vehicles led to increase in auto demand.
Details of company-wise growth (in %):
| Maruti Suzuki | 9.6% |
| Honda | 21% |
| Hyundai | 17.4% |
| Tata Motors | 18% |
| Eicher Motors | 22% |
Automobile sales had reported a growth of CAGR 5.9% over FY12-17. The ongoing festival season, along with positive customer sentiments, are expected to maintain buoyancy in the auto industry.
Auto index surged today by 80 points to 10,891 points. Since demonetisation, Nifty Auto has witnessed a growth of 25%.
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