Indian automakers plans to pass on higher commodity prices to customers will dim the prospects for a demand recovery after December 2020. The hikes come at a time when the boost in some categories from pent-up demand and festive spending fades, and the economic impact from the coronavirus pandemic reasserts itself, Fitch Ratings said. Pent-up demand after the gradual easing in the government s lockdown helped India s monthly wholesale volume of passenger vehicles (PV) return to growth after July 2020. PV wholesale volumes rose by 13 per cent YoY in the quarter ended September 2020, Society of Indian Automobile Manufacturers data showed. Festive demand helped sustain growth after September, but the pace slowed to 5 per cent (year-on-year) in November from 14 per cent in October. This, even after including timing advantage from the Diwali festival falling in November in 2020 as against October in 2019. “We believe this indicates pent-up demand is tapering off”, the rating age
Auto price hikes to dampen recovery after festive boost
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Auto price hikes to dampen recovery after festive boost
By IANS |
Published on
Thu, Dec 17 2020 22:42 IST |
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Toyota Vellfire. Image Source: IANS
Mumbai, Dec 17 : Indian automakers plans to pass on higher commodity prices to customers will dim the prospects for a demand recovery after December 2020, when the boost in some categories from pent-up demand and festive spending fades, and the economic impact from the coronavirus pandemic reasserts itself, said Fitch Ratings on Thursday.
Accordingly, the ratings agency said pent-up demand after the gradual easing in the government s lockdown measures helped India s monthly wholesale volume of passenger vehicles (PV) return to growth after July 2020.
Ever wondered why the vehicle number plates looked different in shapes and fonts from region to region? You may also recall seeing movies where a makeshift mechanic in its small setup would effortlessly forge number plates from one vehicle to another.
Well, all of that has since changed when a new law was introduced by Ministry of Road Transport that mandated a new regime of High-Security Registration Plate (HSRP) – by the vehicle manufacturers, from April 2019.
What transforms a regular registration plate to a high-security registration plate is a host of technical features. To protect against counterfeiting, a chromium-based hologram containing the Ashoka Chakra in blue is applied by hot stamping on the top left-hand corner of the plate on both front and rear plates. If you look closely, you will find that the letters and numerals of the license number on the plate are layered with a film bearing “INDIA” on it. This mark is carefully placed in the manner prescribed by the M