NEW DELHI: Domestic passenger vehicle volumes are likely to grow by around 5% this fiscal, with double-digit growth anticipated in the second half as pent-up demand remains robust even after the festive season, according to Tata Motors Passenger Vehicles managing director and chief executive officer Shailesh Chandra.
The April-September period this fiscal witnessed a 1.6% year-on-year decline, and it was only the festive period that passenger vehicle sales rebounded in the domestic market.
The sales volume in the October-March period should grow in double digits, Chandra said during an analyst call.
He noted that the industry saw a growth of 5% and 17% in September and October, respectively, due to festive demand.
The pent-up demand still continues to overflow in November and December, and both months should be strong in business terms, he added.
“So, overall, in the financial year, because the first half had seen a decline of 1.6% before the festive period, it should be in the zone of 5% or so,” Chandra said.
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