According to a CRISIL Ratings report last month, the share of SUVs in total passenger vehicle (PV) sales is expected to grow from 51 per cent in 2022-23 to 62 per cent in 2024-25.
Garg, speaking to reporters after the launch of the SUV Creta N Line, expressed his disagreement with concerns that the drop in hatchback sales implies that several first-time buyers are being edged out of the car market itself.
"If that (first-time car buyers not buying) was happening, then the overall numbers would not have grown. In 2023, the industry's volume | recording year-on-year growth of 8.3 segment is doing well. Clearly, growth stood at 8.3 per cent, whereas the compound annual growth rate stood at 4.3 per cent for five years. This means we are okay," he said.
هذه القصة مأخوذة من طبعة March 12, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة March 12, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
India-Pak WC clash could fetch $4,800 a second in ad spend
Global firms are splurging on advertising for the upcoming cricket match between India and Pakistan to be held in the US, tapping into the spending power of the South Asian diaspora.
Bureaucracy braces for change with hope and apprehension
Officials fear re-emergence of coalition politics may lead to delayed or disjointed decisions
'Tax origin not suitable to measure budgetary devolution to states'
Using the \"origin of tax collection\" as an indicator to decide the budgetary devolutions can further accentuate the already high levels of fiscal inequalities among the states, a recent study published in The India Forum journal says.
DISCREPANCIES IN TECHNICAL BIDS - Govt likely to give two weeks to ACC PLI applicants
The central government is planning to give a two-week window to the applicants of the 10 GWh tranche of the Advanced Chemistry Cell (ACC) Production Linked Incentive (PLI) scheme to submit all the necessary documents, Business Standard has learnt.
Moody's flags concerns over coalition challenge
Says reduced political stability might erode investor confidence
ET Money suspends transactions in Quant MF schemes
Online mutual fund (MF) distribution platform ET Money on Friday said it had suspended fresh lumpsum investments and SIP registration in Quant MF schemes owing to pending 'business and operational integration' with the fund house.
Mirae Asset mulls $150 mn infusion into Sharekhan
South Korea's financial services major Mirae Asset Capital Markets plans to infuse over $150 million into retail broking arm Sharekhan for expansion into wealth and portfolio management business, said sources.
MARKET CRASH AFTER POLL RESULTS - Plea urges SC to direct govt, Sebi to investigate
A lawyer has filed an application before the Supreme Court \"to direct\" the government and the market regulator to give a report on the share market crash and loss to investors after election results Tuesday.
Markets make sharp recovery but a third of stocks still in red
PSES, Adani, infra stocks among laggards
Sebi plans to open CDS market for MFs
The Securities and Exchange Board of India (Sebi) is planning steps that will increase participation and allow greater flexibility for mutual funds (MFs) in the credit default swap (CDS) market.