Stable government and excise duty cut has boosted market sentiment coupled with hopes of a GST roll out, causing a growth in car sales after 8 months, says SIAM's Vikram Kirloskar.
Auto industry body Society of Indian Automobile Manufacturers (SIAM) released sales data for the month of May, showing signs of recovery in the sector. On the back of excise duty cut, total auto sales grew by over 13 percent to around 17 lakh units during the month.
Vikram Kirloskar, President, SIAM believes the sentiment in the auto sector has considerably improved with more footfall seen in the showrooms. He expects a flat to minor increase in passenger car sales in FY15.
Stable government and excise duty cut has boosted market sentiment coupled with hopes of a GST roll out, causing a growth in car sales after 8 months.
Although there have been signs of recovery, concerns about commercial vehicle sector degrowth still remain, says Kirloskar in an interview with CNBC-TV18's Sonia Shenoy and Latha Venkatesh.
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