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Passenger Vehicle Sales Finally Taking-off?
Aug 11, 2016

The good monsoons and an increase in salaries due to implementation of the Seventh Pay Commission recommendations finally seem to be having an effect. On the passenger vehicle industry, at least.

The month of July has seen sales of passenger vehicles (cars, utility vehicles and vans) zoom 16.8% higher year-on-year. For one, this the 13th consecutive month in a row that they've seen an increase. Second, as today's chart shows, this is a great number considering that car sales have all but floundered for the last five whole fiscals. Now that's a long time for car sales to go nowhere.

Industry body Society of Indian Automobile Manufacturers (SIAM) has now said that it is likely to revise its previous forecast of 6% to 8% growth for the year.

Data Source: Livemint

This Chart Of The Day was published in The 5 Minute WrapUp - Why You Shouldn't Set Stock-Picking Goals

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