Indian auto industry sees reduced demand for April-November 2012: Cites rising fuel costs and inflation as main culprits
Rising fuel prices, high interest rates, inflation and an adverse economic crisis has lead to a slowdown of industrial activity in the country. All these…
Latest projections estimate that the industry is likely to grow only by 5 to 7 percent during the 2012-13 financial year with heavy and medium goods carriers likely to be the worst affected with volumes down 11 to 13 percent during the year as compared to the same period in the previous year. April to November 2012 showed production growth to the tune of 4.80 percent as compared to the same period in 2011 with 1,646,495 units produced in November 2012 as against 1,816,977 units produced in November 2011.
Domestic sales were also not as per expectations with sales during April to November 2012 period at just 4.80 percent higher than the same period in 2011. Besides domestic sales, exports to suffered during the April to November 2012 period with -4.57 percent growth as compared to exports in the same period in the previous year.