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Outlook change from earlier 3-6% comes on back of high inventory
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Icra cuts PV factory dispatches to 0-2%
#New Delhi
Rating agency Icra on Monday revised downwards the outlook for passenger vehicle factory dispatches to showrooms in the current fiscal on acccount of high inventory levels.
Despite good retail sales, a year-on-year growth of 6 per cent in April-October FY2025 partially on account of an early festive season, the high inventory levels for the industry curtailed wholesale volume growth, as per a report on the domestic automotive industry by the domestic ratings agency.
“ICRA has thus revised the outlook for the wholesale volume growth for the industry in FY2025 downwards to 0-2 per cent,” it added. The rating agency had earlier pegged PV wholesale growth at 3-6 per cent for 2024-25 fiscal.
The rating agency had earlier pegged PV wholesale growth at 3-6 per cent for 2024-25 fiscal.
Retail sales of passenger vehicles during the festive season grew at a moderate pace of 6 per cent year-on-year to 6.5 lakh units, aided by attractive discounts and competitive financing rates.
ICRA also revised the outlook for the wholesale volume growth for the industry to 11-14 per cent in FY2025, led by steady replacement demand and an improvement in rural demand on the back of healthy monsoon precipitation. PTI
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