NIFTY 50

Passenger vehicle sales better than 2-wheelers as recovery on track, says industry

Updated : November 19, 2020 02:16 PM IST

Automobile companies registered record wholesale dispatches in October, in anticipation of a solid festive season. Vehicle registration data compiled by Federation of Automobile Dealers (FADA) indicates that the enthusiasm may have been overdone; overall vehicle registrations declined 24 percent year-on-year in October.

It is not all gloom and doom though. The industry has been reporting a month on month increase in retails, but the growth recovery compared to last year remains sluggish.

In an interview to CNBC-TV18, Ramesh Gehaney, ED & COO of Endurance Technologies and Sunil Bohra, ED & Group CFO of Minda Industries spoke at length about passenger vehicle sales surge in festive period.

“Passenger vehicles segment is doing a little better than 2-wheelers,” said Bohra.

According to him, Q3 trends appear to be in-line or better than Q3 of last year.

Watch the video for more
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more
Live TV

recommended for you