Festive demand check: Auto sector upshifts but rural demand still missing
In an interview with CNBC-TV18, Manish Raj Singhania, President of the Federation of Automobile Dealers Associations (FADA) and Teresa John, Deputy Head of Research and Economist at Nirmal Bang spoke at length about whether the festive demand has meant a better festival than the previous long-term average and in which sectors.
With Diwali ending, so has the festive season this year and sectors like auto and white goods have done well in the past two months. In an interview with CNBC-TV18, Manish Raj Singhania, President of the Federation of Automobile Dealers Associations (FADA) and Teresa John, Deputy Head of Research and Economist at Nirmal Bang spoke at length about whether the festive demand has meant a better reading and if so, for which sectors.
The auto industry has seen a good festive season and hence it’s anticipating all-time high sales for the private vehicle segment.
“We are anticipating, on a year-on-year basis, an excellent figure; the passenger car industry will be the advent of good launches, the attraction of SUVs has made the day of the customer, urban and semi-urban customers are on a spending spree and everybody is going for a vehicle to own or buy.”
However, FADA is confident that two-wheelers will also perform better and tractor sales can be achieved only when rural areas start delivering.
Meanwhile, John said, increased participation from women buyers has been seen for white goods.
“We are seeing increasing participation from women buyers; some of the ground research suggests that increasingly white goods sales are being driven by women buyers, also there is increasing availability of credit to these buyers, not particularly for buying white goods but in general, through microfinance institution. So, the last mile availability of credit has improved and this is driving white goods sales in this festive season and probably even outside of that,” she said.
For the entire discussion, watch the accompanying video
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