india’s february car sales biggest ever
Last Updated : GMT 06:41:18
Arab Today, arab today
Arab Today, arab today

India’s February car sales biggest ever

Arab Today, arab today

Arab Today, arab today India’s February car sales biggest ever

New Delhi - Arabstoday

Indian automakers sold more cars in February than any month before as buyers rushed to showrooms ahead of a budget seen raising the cost of vehicle ownership, in a boost for an industry that was hit by tumbling demand last year. Car sales rose 13 per cent in February, the biggest rise in 10 months and a fourth straight monthly increase, as carmakers head for marginal sales growth in the current fiscal year that ends this month. Demand for cars in India fell for the first time in three years last July and shrank for four straight months as high interest rates and rising fuel costs deterred buyers, sparking fears of negative growth in the 12 months to March. “The sentiment has certainly improved. It is certain now that interest rates won’t go up, rather they should come down. Liquidity is not a constraint now,” Vishnu Mathur, director general of the Society of Indian Automobile Manufacturers (SIAM), told reporters. “A lot of people wanted to buy their cars before the budget, because they expect prices to go up after the budget,” he said. India unveils its annual budget on Friday, with carmakers anxiously watching for a possible increase in excise duty and a tax on diesel cars or the fuel, which is currently around 50 per cent cheaper than petrol due to government subsidies. Indian automakers sold 211,402 cars in February, according to data released by SIAM on Monday, the biggest ever monthly total. The 13.1 per cent increase on the same month last year is the biggest rise since April 2011. Total sales so far in the fiscal year that ends in March stand at 1.8 million, up 0.3 per cent from the same period a year previous. “The continued recovery is positive, but the crucial thing is to see what happens to sales in the months after the budget, should there be an increase in excise duty or other costs,” said Vineet Hetamasaria, auto analyst at PINC Research in Mumbai. “These numbers should be seen from that perspective.”  Rising incomes and a swelling middle class have driven booming car sales growth in India over the past few years.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

india’s february car sales biggest ever india’s february car sales biggest ever

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

india’s february car sales biggest ever india’s february car sales biggest ever

 



Arab Today, arab today
Arab Today, arab today Skincare PR Performance Full Year 2017

GMT 10:35 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Arab Today, arab today New hunt for flight MH370 gets under way

GMT 02:36 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation
Arab Today, arab today France sanctions businesses linked

GMT 01:58 2018 Wednesday ,24 January

France sanctions businesses linked
Arab Today, arab today Turkey detains dozens more

GMT 02:09 2018 Wednesday ,24 January

Turkey detains dozens more
Arab Today, arab today
Arab Today, arab today

GMT 07:22 2017 Thursday ,23 November

Zimbabwe's next leader heads home after Mugabe exit

GMT 07:23 2017 Thursday ,23 November

Zimbabwe's next leader heads home after Mugabe exit

GMT 22:38 2018 Tuesday ,23 January

Bahrain Press headlines

GMT 20:34 2018 Saturday ,20 January

Bahrain press headlines

GMT 16:25 2016 Thursday ,22 December

Italian bank Monte Paschi edges closer to state bailout

GMT 06:03 2014 Wednesday ,09 April

Please .. Let Gaza breathe!

GMT 09:12 2017 Friday ,17 November

Gleam Futures represents Grace Beverley

GMT 04:18 2017 Sunday ,26 November

Bella magazine appoints celebrity writer

GMT 06:00 2017 Sunday ,29 October

Childrenswear brand Once appoints Dyelog

GMT 16:33 2014 Thursday ,13 November

Al-Ehtimam Bil Aakhareen

GMT 03:34 2017 Sunday ,05 November

Needle & Thread relocates press office

GMT 14:56 2017 Thursday ,21 December

Ryanair says formally recognises pilots' union

GMT 16:03 2017 Thursday ,21 December

US hits Myanmar general in new global rights sanctions
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday