Long, stable auto demand depends on economy, Kovid-19 situation: Maruti Suzuki – Business news

Long, stable auto demand depends on economy, Kovid-19 situation: Maruti Suzuki – Business news

According to a senior official, post-festive car sales have not been as bad as expected with pent-up demand, but the long and steady demand in the auto industry will depend on the economy and growth. India’s largest car manufacturer Maruti Suzuki India.

“The auto industry was expecting a big drop in consumer interest in terms of booking and inquiries. However, there has been a decline, it is modest and certainly not as high as expectations or fears were in the industry, ”Shashank Srivastava, executive director (marketing and sales), Maruti Suzuki India, told reporters in a talk on Wednesday.

He said that in this sense, it is a much more positive scenario than before. Srivastava said that December should be fine given the current trend of bookings and inquiries with dealers and manufacturers and the low stock levels.

According to the Association of Automobile Dealers Associations, passenger vehicle retail sales rose 4.17 percent to 2,91,001 units in November, compared to 2,79,365 units in vehicle registrations in the Diwali-Dhanteras period. In November 2019.

When asked about the road ahead, Srivastava said, “So far there has been an element of increase in demand. We don’t really know when it will come out. “Therefore, he said, fresh demand, long and steady demand in the auto industry depends entirely on the fundamentals of the economy. “There is a very high correlation between auto demand and per capita growth.” He said it would also depend on the sentiment surrounding the Kovid-19 epidemic.

“On those two factors, there is still some kind of uncertainty, although we are hearing positive noise on both fronts,” he said. Srivastava said that the main reason is “producers are a little apprehensive about providing further guidance for the next quarter and beyond”.

STAY TUNED WITH US FOR MORE INTERESTING CONTENT ONLY ON DESINEW.XYZ

Leave a Reply

Your email address will not be published. Required fields are marked *