CHEER UP !!! Auto Sector...

It seems the bad days for the Indian Auto Sector are over.


Sounds MUSIC to your ears?


It's Today's News Byte: Sales of two-wheelers and cars have picked up in the month of February. We could see it coming, largely because of the Public Sector Banks opening up in extending loans and also the reduction in excise duty by 4% in the month of December. Another plausible explanation for a jump in the sales of automobiles in India seems to be the as a result of lower interests rate which are attracting those customers who were earlier reluctant to go for a vehicle purchase because of the high financing cost.


With the exception of Bajaj Auto every other prominent two-wheeler player in the market posted double digit growth figures in the month of February with Hero Honda recording a phenomenal 24% growth in sales taking it to 3.29 lakh motorcycles and scooters.


The month of February seemed to be a good month for the Indian Auto Industry and it seems that things are going to improve from here on since people who were holding it back because of expectations from the Union Budget are now going to most certainly go ahead with their decisions in the wake of the Post-Budget UPA Farewell Bonanza of a 2% cut in Excise Duty.


We just hope that it carries this way, not just for one sector but for all the other important sectors of the economy as well. This is one good news in the wake of the on-going global economic meltdown.


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So what are you waiting for? Go! Get it.