Auto Cars Boom Sustainable, While many of the industry experts are echoing that the boom in the automobile industry is a short lived phenomenon but the industry body, Society of Indian automobile manufacturers has recently said that the boom is very much sustainable for the coming times as well.
It is to be mentioned here that the month of August saw best ever monthly sales achieved in passenger cars, passenger vehicles, two-wheelers and multi-utility vehicles segments. In fact, as the total vehicle sold in the country during August stand at 12 lakh, it is undeniable the all time high figure for the automobile industry in a month.
In fact, the Director General of SIAM, Vishnu Mathur has recently said that as the level of density is very low in the Indian market as compared to China and Japan, the boom is very much sustainable for the time to come.
For the uninitiated, the passenger car industry is currently growing at a rate of over 30% in this fiscal so far.
Moreover, Mathur also said on the component shortage issue that it has happened because this kind of growth in the industry was not expected, especially after coming out of a recession year.
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