New Car Launches to Propel the Overall Car Sales in the Forthcoming Months
Published By : 21 Jul 2015 | Published By : QYRESEARCH
Ongoing industry trends indicate that the segment for passenger vehicles that was in the doldrums till about a few months back, will soon be back on the recovery path. This will happen by way of new vehicle launches, better domestic sale environment, most importantly, low fuel prices. Honda Jazz and the Volkswagen Vento will be the newest launches in the market which in turn will gives a major thrust to the markets for vehicles such as the Maruti Suzuki S-Cross and the Hyundai Creta.
The process of pre-bookings has already been started by Maruti Suzuki. In addition, Hyundai also declared that it will soon start welcoming almost 10000 pre-bookings for Creta, which is a compact SUV. It is anticipated that consumer sentiment will get a little eased out in the forthcoming months with the low fuel prices. Consumer sentiment in this regard is of utmost importance since even a slight degree of price fluctuation brings about a major change in the demand patterns.
According to professionals and experts in the automotive sector, the forthcoming festive season coupled with low fuel prices will give boost to the market for passenger vehicles in the face of new car launches. It is however warned that the economic pressures will continue simultaneously in the area of mini passenger vehicles segment which are still at the initial stages of establishing themselves in the automotive market. This is so, because of the soaring interest rates which are expected to remain high in the near future as well.
Between the months of April and June, the total sales of passenger vehicles exceeded 6%, which is quite an unfavorable figure. The main cause behind this sluggish growth rate was the performance of the entry-level high volume segment which was way below expectations. WagonR, Alto, and Maruti Suzuki are the cars that dominate the entry-level cars segment.