In June, Indian automakers witnessed growth in the overall market and domestic sales. The passenger vehicles, two-wheeler segments and three-wheelers saw a rise in sales in June.
In this episode of the State of the Economy podcast, S Ronendra Singh talks to Vinod Aggarwal, President of the Society of Indian Automobile Manufacturers (SIAM), to get the overall industry perspective.
In the podcast, they discuss how various issues are affecting the sector. Aggarwal explains how people are making a shift to SUVs even in rural areas and how the ability to access cheap finance can push sales of two-wheelers up. He also talks about how the industry is meeting the BS-VI emission norms set by the government.
He also talks in detail about how the CV market and highlighted that some segments within this market have already surpassed their earlier peak levels.
He attributed this surge in demand to pent-up replacement needs and noted that these modern trucks offer enhanced productivity and fuel efficiency, making them more appealing for fleet owners. He also said that the government’s infrastructure push has also contributed to the increased demand for construction trucks. He added that new-age customers, particularly e-commerce companies, require more powerful engines and specific types of trucks to improve productivity and ensure faster deliveries.
He also spoke about the high demand for luxury cars and the long waiting periods for getting new cars.
(Host: S Ronendra Singh, Producer: V Nivedita)
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About the State of the Economy podcast
India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders. To help you make sense of the bundle of contradictions that the country is, businessline brings you podcasts with experts ranging from finance and marketing to technology and start-ups.