Manish Raj Singhania, President, FADA, says “immediately after the election, we saw a big spike in PV retails. So, though during the elections, we will see a slight dip, but what we saw in the Vidhan Sabha elections will definitely be replicated in the Lok Sabha election. Post election, we can expect a big spike and the retail sales that were on hold during elections, will start moving.”.
How does the macro setup look like for the auto sector and how do you think FY25 will pan out versus FY24?
Manish Raj Singhania: The financial stability, the excitement around SUV, we still have growth in the entry-level passenger car market and the EV pricing is coming down every quarter or every year, we are seeing EV prices coming down. All this will continue to drive sales for the EV and financial stability has been good and the road infrastructure has been very good for the overall EV space.A big trigger or a big important event which is lined up ahead of us is elections. Do you think that is going to impact maybe the passenger vehicle or commercial vehicle demand, at least in the interim?
Manish Raj Singhania: During the last Vidhan Sabha elections of the large states, Chhattisgarh, Madhya Pradesh and Rajasthan, in that 30-day period, we definitely saw dip in PV sales, because a lot of restrictions in terms of carrying cash and multiple stoppages and a lot of justification was needed for carrying even a small amount of cash.
How does the macro setup look like for the auto sector and how do you think FY25 will pan out versus FY24?
Manish Raj Singhania: The financial stability, the excitement around SUV, we still have growth in the entry-level passenger car market and the EV pricing is coming down every quarter or every year, we are seeing EV prices coming down. All this will continue to drive sales for the EV and financial stability has been good and the road infrastructure has been very good for the overall EV space.A big trigger or a big important event which is lined up ahead of us is elections. Do you think that is going to impact maybe the passenger vehicle or commercial vehicle demand, at least in the interim?
Manish Raj Singhania: During the last Vidhan Sabha elections of the large states, Chhattisgarh, Madhya Pradesh and Rajasthan, in that 30-day period, we definitely saw dip in PV sales, because a lot of restrictions in terms of carrying cash and multiple stoppages and a lot of justification was needed for carrying even a small amount of cash.
But immediately after the election, we saw a big spike in PV retails. So, though during the elections, we will see a slight dip, but what we saw in the Vidhan Sabha elections will definitely be replicated in the Lok Sabha election. Post election, we can expect a big spike and the retail sales that were on hold during elections, will start moving.
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