🚖IHS Markit Automotive Blog – New vehicle sales in India remain flat in October .
IHS Markit perspective
Significance: India’s passenger vehicle market posted a marginal decline of 0.3% y/y in shipments during October, while deliveries of commercial vehicles jumped 6.4% y/y.
Implications: The moderation in vehicle shipments in India during October can be attributed to pre-buying in the earlier months to avoid a recent tax increase and to high base effect as sales in October 2016 were boosted by festive demand. The majority of festive demand this year shifted to September.
Outlook: For the rest of the year, we expect volatility in policies may hinder domestic growth. IHS Markit forecasts a 9.1% y/y expansion in light-vehicle sales in India this year to 3.72 million vehicles.
IHS Blogs
http://blog.ihs.com/new-vehicle-sales-in-india-remain-flat-in-october
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