Festive season begins but PV sales still to light up

Even as Diwali season festivities bring joy and positive sentiments to the Indian automotive market every year, the scenario this time around is rather different, what with high insurance premiums, rising fuel prices and iffy consumer sentiment playing spoilsport.

While growth in the passenger vehicle (PV) segment has witnessed a mellowed response all through Q2 (July-September 2018) of the ongoing fiscal, largely owing to the high year-ago base due to a surge in sales immediately after GST implementation in July 2017, industry sales have further remained muted, leading to a dull festive season for most automakers.

Fuel prices ...