New Delhi, Oct 18
The festive season has revived demand for the Indian auto industry as registration growth in the second week (October 10-October 16) improved for most of the segments compared to that seen in the first week of this year’s festive period, a report showed on Friday.
Two-wheelers (2Ws) registered mid-single-digit growth over the second week of last year’s festive season (October 22-October 28), while mopeds saw low double-digit growth, according to the report by BNP Paribas India.
While passenger vehicle (PV) sales declined, the decline reduced week-on-week.
The three-wheeler (3W) registrations declined by low-single digits, while those of tractors declined by mid-double digits.
"Week 2 data could see an upward revision as more data becomes available. The week-over-week growth in week 2 was better-than-historical week-on-week growth and showed signs of recovery," the report mentioned.
Also, growth in the second half of last year’s festive period was lower than that in the first half.