India Autos Report Q2 2014

India Autos Report Q2 2014

Published: February 2014
Publisher: Business Monitor International (BMI)
Product ref: 195844
Pages: 84
Format: PDF
Delivery: Immediate download

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According to the Society of Indian Automobile Manufacturers (SIAM), Indian auto sales for December 2013 came in at 232,918 units, a decline of 12.9% y-o-y. Looking at recent trends, our full FY2013/14 (April-March) sales growth forecasts may be a tad optimistic and we are therefore downgrading them slightly. We now forecast auto sales for the full fiscal year to contract 6.7%, to 3.2mn units, from a 4.6% contraction previously.

There is a high degree of uncertainty over the outcome of the Indian general elections, with no party currently standing out as being able to form a majority. While this has already been one of the reasons businesses are adopting a wait and see approach in the past few quarters (which has slowed investment activity), consumer sentiment will also remain downbeat in the run-up to the elections as buyers decide to defer their purchases, further clouding an already depressed market.

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Related research categories

By market: India (in Asia), India (in BRICM)

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