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

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.

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