Postweek Report (12 Feb — 16 Feb)

With the sales of vehicles expected to grow through the year, the auto industry is set to grow as well

smallcase Auto Tracker

Auto sales started 2018 off on a strong note according to data released by SIAM last week. Sales of passenger vehicles grew by 7.57% year-on-year. Two wheeler sales in January were up by more than 33% compared to the same month last year. Within the CV segment, medium and heavy commercial vehicle sales increased by 18.77%.

Sales of commercial vehicles is expected to continue with their growth momentum for the rest of the year due to the government’s infra spending push, implementation of GST, strict enforcement of rules against overloading and policy to scrap vehicles that are more than 15 years old. Anuj Kathuria, senior official at Ashok Leyland, speaking in an interview said that prospects of the segment looks rosy for the next 2 years as projects like Sagarmala, Bharatmala, freight corridor construction, smart cities etc. will drive vehicle demand.

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Also in focus in the latest postweek report is the insurance sector, which is expected to grow to $280 billion by 2020 from $84.72 billion in financial year 2017. You can read more on smalltalk or invest in this sector through the smallcase Insurance Tracker.