Auto sector demand hinges on marriage season, infrastructure revival: Report
marriage season and revival in government infrastructure projects, for boost in sales, especially for the two-wheelers and entry-level cars, says a report by InCred Research.
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The report also noted that the demand for automobiles has faced some challenges after the festive season, with discounts being withdrawn at a slow pace. The industry is now closely watching two key factors--price hikes and overall demand trends--to assess the future outlook.
It said "Rural demand growth was better than urban growth by 200-300bp for the quarter. All hopes are on the marriage season demand and a revival in government infrastructure projects".
This indicates that people in rural areas are showing relatively higher interest in purchasing vehicles compared to cities. However, the sector still needs strong triggers for a full recovery in demand.
The report also mentioned that weddings in India often lead to higher purchases of vehicles as gifts or for personal use, making this period crucial for automakers.
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