Bosch India says October auto sales cannot be seen as sign of revival in industry

Amid signs of relief in the Indian auto market on the back of positive October retail sales, automotive components manufacturer Bosch India has cautioned that October sales numbers should not be extrapolated as a sign of revival in the market.

In a call with analysts, Bosch India joint managing director Soumitra Bhattacharya cautioned that October sales (in the Diwali period), especially passenger vehicles, were down 2 percent over the same period last year.

He said the spike in sales in October doesn't reflect the reality of the auto sector for at least the next couple of quarters because the companies offered 'very deep discounts' during the festive season. This sales growth in October came in the backdrop of an otherwise very sharp and steep de-growth until September.