BUSMAKERS' NEWS WORLDWIDE * India - Things are bad but they could have been worse
New Delhi,India -Economic Times (Gurgaon,Haryana,India) -8 Nov 2008: -- Half-yearly data shows passenger vehicle sales losing speed from nearly 12% growth last year to 7.5% this time round. Car sales grew at 5.4%, less than half of last year’s 13%. But given the mood of the market, the stats could have been much worse... The truck and bus makers weren’t that well off with growth slowing down to just under 4% in the April-September period. Buoyed by the Tata Ace, the light goods carriers clocked 11% growth in the first half of the year, propping up total commercial vehicle sales... In September, though, that tally turned flat at 42,698 units compared to 43,091 last year, signalling a slowdown. Said a Mumbai-based analyst: “The CV trends show a distinct slowdown and car sales have been backed by export numbers. The only segments that seem to be bucking the trend are two-wheelers and super premium cars.” Clearly demand at the top and bottom of the pyramid is defying market sentiment...
Labels: busmakers' news worldwide
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