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Cars and Utility Vehicles Annual Review June 2009Published by: CRISIL Ltd. Published: Jun. 30, 2009 - 136 Pages Table of Contents
AbstractHigher cost of ownership impacts domestic car sales in 2008-09.Spiralling interest rates, higher fuel prices and increase in car prices resulted in higher cost of ownership in 2008-09. This, and stringent credit disbursement norms, longer processing time, higher loan rejection rates and weak consumer sentiment led to flat growth (1.3 per cent) in domestic car sales in 2008-09. However, exports grew by 58 per cent y-o-y, with India emerging as a manufacturing hub for Hyundai Motor India Ltd (HMIL) and Maruti Suzuki India Ltd’s (MSIL) compact segment cars. HMIL’s exports grew by 75 per cent, with India catering to the global demand for its compact segment cars - i10 and i20. MSIL’s exports grew by 36 per cent with Suzuki Motor Corporation making India the manufacturing hub for its compact segment car ‘A star’. Recovery in 2009-10 to be aided by lower cost of ownership and deliveries of Tata Nano CRISIL Research expects the domestic passenger car industry to grow by 7-9 per cent and the domestic utility vehicles (UVs) segment to grow by 3-4 per cent in 2009-10 with cost of ownership reducing by 5-6 per cent, new model launches and increase in the addressable market with the launch of Tata Motors’ low cost car ‘Nano’. Get Full Details About This Report >> |
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