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Auto Volumes are a Good Indicator of Economic Growth
Mar 8, 2018

Speaking of the growth of the Indian economy, one of the major indicators of this is the volume of vehicles sold.

For the first nine months of FY18 at least, the auto industry has done well to grow in double digits after some lean years.

Vehicle sales grew by 11.3% YoY during this period. The best performing of the lot were commercial vehicles (CVs), volumes of which grew by 15% YoY. Two-wheelers also did well growing by around 12% YoY.

In fact, in a recent conference call, the management of the largest two-wheeler company in the country - Hero Motocorp - said they expect the two-wheeler industry to grow in double digits in FY19 as well.

We're keeping a close eye on auto stocks in this correction.

Data Source: SIAM

This Chart Of The Day was published in The 5 Minute WrapUp - The Best Blue-Chip Stocks to Ride Sensex 100,000

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