14 July 2011

automotive market forecast 2011

automotive market forecast 2011 ; Automobile industry body SIAM today lowered its vehicle sales growth forecast for FY'12 to 11-13% from 12-15% announced three months earlier, mainly due to higher interest rates and rising fuel prices.

The Society of Indian Automobile Manufacturers (SIAM) also predicted a lower growth of 10-12% during 2011-12, as against 16-18% announced earlier.

It, however, said India became the top growing passenger car market in the world during the January-June period this year, overtaking the US, which grew at 14.40%.

"Increase in interest rates has been higher than what we had thought three months earlier... Fuel price rise is more than what we had anticipated," SIAM President Pawan Goenka told reporters here.

He, however, said commodity prices, which are another big concern for the auto industry, have started softening in recent months and hence, it is unlikely that any company will raise the prices of their products.

"We are sitting at a threshold where if interest rates go up further, it will have a devastating impact on the industry. The three biggest concerns at present for the industry are lower general sentiment due to lower GDP forecast and various scams, higher finance rates and increasing fuel prices," Goenka said.

In the first quarter, two leading car-makers, Maruti Suzuki and Tata Motors , did not experience good growth, he said, adding, "The rest of the quarters of this fiscal depend on how Maruti Suzuki and Tata Motors perform."

Labour unrest, which had completely stopped production at Maruti Suzuki's Manesar plant for 13 days, is another major concern for the auto industry of the country, he added.

Stressing that the industry will grow at a double-digit rate, Goenka said: "Our revised forecast is now 11-13% for the entire auto sector. Both the passenger car and passenger vehicles segments have been projected to grow at a lower rate 10-12% in FY'12."

With expectations of a good monsoon season and arrival of the festive season, sales in the passenger vehicle segment are likely to pick up again at the end of this quarter, he added.

There were 13 new launches in the both the passenger vehicles and two-wheeler segments last quarter. Besides, the passenger vehicle and two-wheeler industries both saw three vehicles being refreshed to suit consumer tastes, Goenka said.

Dwelling on the forecast, SIAM said the growth projection for the two-wheeler segment has been unchanged, while that of the three-wheeler segment has been lowered to 8-10% from 9-11%.

Utility vehicle sales will surge by 10-12% compared to 12-14% announced earlier, he said.

Goenka said the commercial vehicle segment is likely to witness slower growth of 12-14% than the earlier projection of 14-16%.

While sales in the light commercial vehicles segment are now estimated to rise by 17-19%, instead of the earlier forecast of 18-21%, medium and heavy commercial vehicle sales are expected to be up by only 8-10%, as against 10-12%, he added.

Talking about India's performance compared to other global markets, Goenka said: "In passenger vehicles, India was the fastest growing market at 18.20%in the first six months of 2011. However, it was at the fifth position with
12.70% in the commercial vehicles category."

In the passenger vehicles category, the US was the second fastest growing market in the world, with a 14.40% jump in sales.

Germany, China and Brazil followed the list with a 14.30%, 11% and 8.30%increase in sales, respectively.

In the commercial vehicles segment, Germany was the fastest growing country, with sales rising by 28.20% year-on-year, followed by the UK, Brazil and the US, which experienced sales growth of 26.30%, 18.70% and 13.70%, respectively, Goenka said.

Tag ; auto forecast 2012, 2011 auto forecast, projected north american auto sales, us automobile sales forecast 2012, projected auto sales for july 2011, automotive forecast 2012, automotive market forecast 2012,automotive market radar 2011,predicted US auto sales in 2012, us veichle sales ranking, us vehicle sales projection,us auto sales 2012 forecast,projection of auto production in 2012 united states, us automotive sales forecast, recession 2011 predictions, us auto sales rankings 2011, U S housing market forecast 2013, U S vehicle sales forecasts 2012, US 2011 auto sales

Related Post :


ninest123 said...

air jordan pas cher, burberry, prada handbags, ray ban sunglasses, louis vuitton, louis vuitton, tiffany jewelry, air max, prada outlet, tory burch outlet, polo ralph lauren outlet, jordan shoes, louis vuitton, nike roshe run, louboutin pas cher, replica watches, ralph lauren pas cher, kate spade outlet, nike air max, oakley sunglasses, michael kors, gucci outlet, oakley sunglasses, louboutin shoes, ugg boots, louis vuitton outlet, oakley sunglasses, cheap oakley sunglasses, nike outlet, polo ralph lauren outlet, ray ban sunglasses, longchamp pas cher, longchamp outlet, christian louboutin outlet, louboutin outlet, nike air max, ray ban sunglasses, chanel handbags, oakley sunglasses, longchamp outlet, longchamp, ugg boots, replica watches, nike free, sac longchamp, tiffany and co, uggs on sale, louis vuitton outlet, nike free, louboutin

ninest123 said...

nike air max, timberland, nike blazer, true religion jeans, nike air max, abercrombie and fitch, mulberry, true religion jeans, nike roshe, ralph lauren uk, ugg boots, coach outlet, michael kors, ugg boots, tn pas cher, ray ban uk, hermes, coach purses, vans pas cher, true religion jeans, sac guess, ray ban pas cher, hogan, kate spade handbags, hollister pas cher, michael kors outlet, replica handbags, michael kors outlet, air force, coach outlet, burberry, michael kors outlet, nike free run uk, north face, burberry outlet online, north face, vanessa bruno, converse pas cher, oakley pas cher, michael kors, michael kors, nike air max, michael kors, new balance pas cher, true religion outlet, michael kors outlet, hollister, michael kors outlet, lululemon, lacoste pas cher

ninest123 said...

oakley, nfl jerseys, converse outlet, p90x workout, baseball bats, birkin bag, lancel, jimmy choo shoes, ralph lauren, abercrombie and fitch, mcm handbags, gucci, chi flat iron, nike air max, bottega veneta, babyliss, ghd, longchamp, north face outlet, hollister, hollister, nike roshe, giuseppe zanotti, herve leger, new balance, ferragamo shoes, lululemon, soccer jerseys, asics running shoes, wedding dresses, mac cosmetics, nike trainers, vans shoes, reebok shoes, beats by dre, nike air max, vans, north face outlet, celine handbags, instyler, timberland boots, louboutin, mont blanc, soccer shoes, valentino shoes, insanity workout, ray ban, iphone cases, hollister, nike huarache

ninest123 said...

louis vuitton, moncler, moncler, canada goose outlet, canada goose outlet, louis vuitton, canada goose uk, marc jacobs, moncler, moncler outlet, swarovski, replica watches, montre pas cher, juicy couture outlet, louis vuitton, canada goose, canada goose, moncler, hollister, ugg pas cher, coach outlet, moncler, swarovski crystal, canada goose, toms shoes, moncler, pandora charms, sac louis vuitton pas cher, bottes ugg, moncler, pandora charms, links of london, juicy couture outlet, supra shoes, ugg,uggs,uggs canada, louis vuitton, ugg boots uk, wedding dresses, canada goose, ugg,ugg australia,ugg italia, pandora jewelry, doudoune canada goose, thomas sabo, pandora jewelry, karen millen