The current year is likely to be somewhat stable as car sales in India decline over the previous year Economic Research Institute Moody’s News. Car sales dropped 11.8 percent last year.
Moody says sales will increase by 0.5 percent this year. In the last one year, Indian automobile companies have experienced a severe decline.
A number of top manufacturers have cut production as auto sales decline. One and a half million employees leave.
Moody’s said sales could increase slightly this year. Only PS6 cars will go on sale from next April. The next sale is expected to increase somewhat.
According to Moody’s, PSU rules and government exemption plans will increase car sales in India by 5.7 percent this year. However, at present, customer capacity has been damaged. Not only that, the financial cycle has also decreased.
As a result, a big increase this year is not expected. Sales are projected to grow 2 percent by 2021.
Similarly, Carino says global sales will be covered by the virus. Globally, vehicle sales dropped 4.6 percent last year. By 2021, sales will decline by two and a half percent. However, in the present context it has increased by two and a half percent. But next year auto sales are expected to increase by one and a half percent.
However, the outlook for the auto industry as a whole was negative. Some say the car sales in China will decline by 2.5 percent due to the virus.