AUGUST SALES ANALYSIS: Cess hike fears drive PV sales, smart gains for CVs and Two-Wheelers
All the vehicle segments and sub-segments, other than passenger-carrying M&HCVs and LCVs, are in the black and indicative of good traction in the market, the spoiler of an additional GST cess notwithstanding.
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While PV sales in July rose to a record high thanks to GST-driven price reductions, buyers rushed to buy midsized cars and SUVs ahead of the new GST cess kicking in. The good news though is that rural demand has bounced back for CVs and two-wheelers.
It was known, even before SIAM revealed the monthly sales numbers for August 2017, that the overall passenger vehicle (PV) sales were going to be of the august type. If in July 2017, domestic PV industry came close to crossing the 300,000 unit mark (298,997 / +15.12%), then overall sales in August 2017 were ...
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