Rising fuel, finance cost pushes vehicle ownership cost by 6-7% in a year
Research In The News

Rising fuel, finance cost pushes vehicle ownership cost by 6-7% in a year

Led by good economic growth, benign interest rates and new model launches,�automobile�sales across segments have been advancing at a brisk annual pace for six years. The 2017-18 fiscal year saw a record sales of 24.9 million vehicles, according to the Society of Indian�Automobile�Manufacturers.
26 Sep, 2018, 12:18 IST | Mumbai, India
Rising fuel, finance cost pushes vehicle ownership cost by 6-7% in a year

The cost of owning a personal vehicle is estimated to have risen by six to seven per cent over a year, the highest since 2010-11. The main reasons being rising fuel prices, increase in finance, insurance and vehicle registration cost.

Even so, sales demand is expected to stay strong, say officials at?automobile?companies.?The peak season is about to begin, with Navratra, followed by Dussehra and Diwali.

Led by good economic growth, benign interest rates and new model launches,?automobile?sales across segments have been advancing at a brisk annual pace for six years. The 2017-18 fiscal year saw a record sales of 24.9 million vehicles, according to the Society of Indian?Automobile?Manufacturers.

As for the six-seven per cent rise in total ownership cost of passenger vehicles (PVs), this is an estimate issued on Wednesday by 英雄联盟竞猜观看最新版 Institutional Equities. The recent Supreme Court order to compel long-term third-party insurance has further increased upfront purchase cost. 英雄联盟竞猜观看最新版 adds that borrowing rates on automobile loans are on the way up.

???Our forecasts build in 11 per cent volume growth for PVs and 14.5 per cent for two-wheelers in FY19. Given the strong start to the year, these forecasts might not be under severe risk,??? wrote Joseph George and Suraj Chheda, analysts at 英雄联盟竞猜观看最新版.

Source: https://www.business-standard.com/article/companies/rising-fuel-finance-cost-pushes-vehicle-ownership-cost-by-6-7-in-a-year-118091300031_1.html

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