The reaction quote from Sridhar V, Partner, Grant Thornton India LLP
“Auto sector has seen a refreshing growth across all segments and has witnessed highest dispatches primarily because of new introductions during the festival season, favorable monsoon and settled down regulatory and tax positions on the pollution and GST enabling customers to loosen the purse strings. The new introductions are with modern features hitherto not introduced in the mid segment. For this reason sedans have also shown a good recovery in growth while SUV’s are continuing the growth trend. The festival season continues and should show a similar growth in the ensuing month also. So is the case with commercial vehicles continuing the uptrend visible in the previous months mainly due to restrictions in overloading placing demand for higher tonnage vehicles and BS IV compliant ones, while the two wheelers have been setting a good pace the last 6 months and growing consistently crossing the two million volume this month. Overall the second quarter has been a dream run for the sector.”
