July02, 2018 (C) Ravinder Singh email@example.com
ET Story of 30% growth in Car sales was astonishing for June18 which is not a festival season when Indians make most purchases, nor was it wedding time when cars are given as dowry. Study revealed following.
While ET Chart did mention the figure of 30% for June18 is based on Sales Dip in 2017. But figures before GST and Demonetization was213,494 units for June2015 and ET reported sales of 233,359 for June18.
June Sales Growth is 9.3% in 3 Years – not even 3% Compound Growth rate.
The Hindu on April15, 2018 already reported Annual Sales growth of3.3% – 2,173,960 for FY2017-18 from 2,103,847 FY2016-17.
BS April10, 2018 Provided detailed breakup of Automotive Sales for FY2017-18.
Passenger vehicles (cars, utility vehicles and vans) closed the year with sales of 3.28 million units, growing at 7.89 per cent, against 9.23 per cent in 2016-17. Cars grew at 3.33 per cent to 2.17 million units, while utility vehicles expanded at a healthy 21 per cent to 0.92 million units.
Commercial vehicle sales made a strong comeback with 20 per cent growth in 2017-18, significantly higher than 4 per cent in 2016-17. Within the segment, sales of medium and heavy vehicles grew 12.48 per cent to 340,313 units, while those of light vehicles expanded at over 25 per cent to 516,140 units. Three-wheeler sales also hit a new record of 635,698 units, growing 24 per cent from the previous year.
Sales of two-wheelers in the world’s biggest market recorded a new high of20.19 million units last year, growing at 14.80 per cent, compared with 7 per cent in 2016-17. Motorcycle sales grew 13.69 per cent to 12.61 million units, while scooters expanded 20 per cent to 6.71 million units. Mopeds, however, declined over 3 per cent to 0.85 million units.
But further study revealed Indians continues to be affected by CBI raids on Businesses, started in 2011 in matters of Coal Blocks & Telecom Spectrum Demonetization in 2016 and GST in 2017.
Two wheeler sales in 14.8m in FY14 has expanded to 20.19m in FY18 – 36.4% growth.
Two Wheeler Sales Growth 5.4m in 4 Yrs – Car Sales 0.14m 6 Yrs
Car sales were 2,031,306 in FY2011-12 which progressed to 2,173,950 in FY2017-18.
This is only 7% Car Sales growth in 6 years.
This is indication of EARNINGS of Rich Indians had not improved in last 6 years when Indian population increased by about 13% to 14%.
Or their expenditure on Education, Healthcare, Energy, and other Household Expenditures had gone much sharply.
Ravinder Singh, Inventor & Consultant, INNOVATIVE TECHNOLOGIES AND PROJECTS
Y-77, Hauz Khas, ND -110016, India. Ph: 091- 8826415770, 9871056471, 9650421857
Ravinder Singh* is a WIPO awarded inventor specializing in Power, Transportation,
Smart Cities, Water, Energy Saving, Agriculture, Manufacturing, Technologies and Projects