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wholesale nfl jerseys «The good news is that for cars, passenger vehicles, utility vehicles and two wheelers, September was the best month in terms of absolute numbers this fiscal. I hope we can continue with this momentum,» SIAM President Vikram Kirloskar told reporters here.However, the Society of Indian Automobile Manufacturers (SIAM), struck a cautious note, saying it was unlikely that passenger car sales would post positive growth this fiscal under current economic circumstances.It said the decline of 4.67 percent in car sales in the first half of this fiscal was the worst since 2002 03, when sales dropped by 6.96 percent in the same period.Asked if the September sales reflected a rebound in the market, Kirloskar said: «It is difficult to say, wholesale blue jays jerseys but we have had a good monsoon and some positives around.» Kirloskar said it was unlikely for car sales to post positive growth this fiscal «unless something really nice happens in the festive season.»»I will be really happy if there is flat or even a slight positive growth this fiscal,» he added.Domestic passenger car sales grew 0.73 percent in September from 1,54,884 units a year earlier. Market leader Maruti Suzuki India posted a 14.52 percent growth in domestic sales at 78,975 units last month as against 68,957 units in the same period last year. wholesale nfl jerseys
In fact, the auto sector as a whole has been under pressure for almost a year now due to above concerns. The Nifty Auto index itself fell most among sectors, down 35 percent against 4 percent fall in Nifty50.The Japanese brokerage sees Maruti Suzuki, the country’s largest car maker, reporting 33 percent YoY decline in overall volumes.Mahindra and Mahindra’s utility vehicle volumes should also decline 13 percent YoY, said Nomura which expects Ashok Leyland M volumes may be down 47 percent and Tata Motors may see its M volume declining 45 percent YoY.In case of Eicher Motors, the brokerage expects overall commercial vehicle volumes to decline 33 percent YoY.In the two wheeler space, country’s largest two wheeler maker Hero MotoCorp is expected to report a 26 percent YoY decline in volumes and TVS’ domestic volume is likely to decline by 20 percent, it said.Royal Enfield volumes are also expected to drop 17 percent Yoy, though it is likely to improve MoM to 58,000 units, said Nomura, adding Bajaj Auto may report a 19 percent YoY decline in the domestic 2 wheeler segment.Nomura has buy recommendation only on M among original equipment manufacturers and prefers Minda Industries among auto component makers.»The slowdown in the automobile space is largely on account of muted economic sentiments domestically wherein customer confidence is low, thereby resulting in lower walk in at dealership stores. While conversion rates have not necessarily dropped, deferral of purchases is a reality, with automobiles not a cheap wholesale hockey jerseys current consumer priority,» said ICICI direct after meeting auto companies in an auto conference hosted by ICICI Securities.The brokerage further said the consumer cheap nfl jerseys from china was also puzzled by the BS VI transition and is awaiting a firm policy signal on GST rate cut for the automobile space.
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