The automobile retail sales in November fell below market expectations, posting an 11.2 per cent growth compared to the same period last year. The development comes following a lucrative festive season in October.
The downward revision reflected delays in the recovery of automobile exports, impacted by certification-related issues with certain manufacturers.
Inventory levels in passenger vehicles in June reached an all-time high, ranging from 62 to 67 days, the report said
Under the amended scheme, the incentive will be applicable for a total of five consecutive financial years, starting from the financial year 2023-24.
The data released by the Federation of Automobile Dealers' Associations (FADA) attributed the spike the sales to a positive market sentiment driven by favourable monsoon.
The recent release of the Indian Blue Book (IBB) report 2022 estimates the used car market at USD 23 billion in FY22 and speculates it to grow at a double rate of 19.5 per cent CAGR till FY27.
The connected car penetration surpassed that of non-connected cars for the first time ever globally, capturing almost 50.5 per cent share in the second quarter (Q2) this year. 5G-ready car sales surpassed half a million, though 4G accounted for 90 per cent of connected car sales.
In 2021, Cambodia exported a total of $630.69 million worth of bicycles, climbing by 20.58 per cent over the $523.04 million booked in 2020, according to the finance ministry.
It is high time that we move away from the populist ideology of mandating regulations and safety devices like six airbags but bite the bitter pill of enforcement and penalties that may affect masses. Of course, harsh measures will face resistance and give discomfort initially, but eventually they will become a habit. There is nothing more important than human life. The medicine must attack the root cause. It is time to act now to address this vital problem.
SEV is an authorised distributor of EVs in Singapore, Malaysia, Thailand and Indonesia. It has 45 EV charging points at its Singapore headquarters in Ubi Avenue and a fleet of around 200 BYD e6 electric cars, most of which are leased out to drivers on ride-hailing platforms Gojek and Grab, with expectations of taking delivery of 300 more.
