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Life on a fast lane

 

Has the motor vehicle industry affected by the recent down turn?

Created by : Parag Patni, Product Development Manager, Maruti  | 11 28 2008 13:59:39 +0000
Industry : AutomobileFunctional Area : Autos(Personal Interests)
Keywords : Industry Recent Downturn Affected Down Turn Motor Vehicle
Activity:  209 views;  last activity : 07 06 2010 20:18:09 +0000
 
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Actually the above reason can be a good sign. People’s postponement of purchases of personal vehicles has been good for commercial carriers. Sales of buses and minibuses went up by 27 per cent in 2007-08. Sales of trucks and minitrucks went up by only 1 per cent. The priority given by the central government to the improvement of urban infrastructure also spilled over into increased demand for buses and minibuses. As times get harder, it would not be surprising if many people who had bought cars and motor cycles in better times went back to buses to save money.
By Abhijit Mohanty, Product Development Manager, Mahindra & Mahindra  11 28 2008 14:01:04 +0000
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Everything has got affected, then how can the vehicle industry remain aloof. The motor vehicle industry mirrors the slowdown in the economy. Taking you all thought the facts, between 2006-07 and 2007-08, growth in sales of passenger cars came down from 22 to 12 per cent. Car sales are stimulated by people abandoning two-wheelers and buying safer four-wheel vehicles. But obviously, the decline in overall growth hurt the fortunes of the upward-mobile middle class. Two-wheeler sales have done even worse; after growing by 11 per cent last year, they fell by 8 per cent in 2007-08. Two-wheeler sales have grown more slowly than car sales for a long time.

 
By Parag Patni, Product Development Manager, Maruti  | 11 28 2008 13:59:39 +0000
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I think it is too early to say anything on this. As of now it hasn’t affected the industry bu it might in the near future. There might be a glimmer of hope with steel prices easing and duties being relaxed by the Government, this sector might really grow and show tremendous potential.

 
By Saswati Biswas, Product Development Manager, Tata Motors  | 11 28 2008 14:01:17 +0000
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