{"id":4185,"date":"2019-02-22T03:55:19","date_gmt":"2019-02-22T03:55:19","guid":{"rendered":"http:\/\/financeintellect.com\/home-page\/home\/?p=4185"},"modified":"2019-02-22T04:02:48","modified_gmt":"2019-02-22T04:02:48","slug":"govt-asks-ongc-oil-to-sell-out-66-fields-to-pvt-firms","status":"publish","type":"post","link":"https:\/\/financeintellect.com\/home-page\/home\/govt-asks-ongc-oil-to-sell-out-66-fields-to-pvt-firms\/","title":{"rendered":"Auto sales to quicken pace in second half of next fiscal after a slow\u00a0 first half, says India Ratings"},"content":{"rendered":"

\u00a0<\/strong>India’s overall automobile sales will still show signs of little enthusiasm in the first half of 2019-20, but the upcoming implementation of BS-VI emission norms will drive the demand in the second half of the year, according to India Ratings and Research (Ind-Ra).<\/p>\n

According to the the ratings agency, the passenger vehicle (PV) segment, which has clocked a 4 % growth in the ten months of the ongoing fiscal, is expected to grow steadily next fiscal.<\/p>\n

The commercial vehicle (CV) segment, which has grown 23 % in the ten months of 2018-19, is expected to see high single-digit to low double-digit growth in 2019-20, Ind-Ra said in a statement.<\/p>\n

Two-wheelers are also geared for steady growth in the next fiscal, it said. The segment has grown by 8 % so far in the ongoing fiscal.<\/p>\n

Buying procurement on the expected price rise in 2020-21 due to the implementation of BS-VI norms, improvement in consumer sentiments along with new model and variant launches will be among the key growth drivers for the PV segment.<\/p>\n

\n
For the CV segment, it said, continued uptick in industrial activity, road and infrastructure development, and the likelihood of liquidity of NBFCs will fuel demand.<\/div>\n<\/div>\n

The rise in rural income and growing middle class population with increasing disposable income will be the key growth drivers for two-wheeler segment, along with a young population showing preference for premium products.<\/p>\n

While maintaining a stable outlook for automobile sector, the ratings agency said BS-VI implementation from April 1, 2020 will make vehicles costlier across all segments.<\/p>\n

“As per industry estimates, the cost of petrol variant PVs and two-wheelers could increase 10-15 % and that of diesel variant by 20-25 %,” it said.<\/p>\n

Due to this, Ind-Ra expects demand to pick pace in second half of 2019-20, but it may still be lukewarm in the first half, it said.<\/p>\n

\n
The agency further said credit ratings of most of the large players in its sample are set to be unaffected in 2019-20 despite capex plans in view of the ongoing regulatory changes, development of an electric vehicle platform and continued new product launches.<\/div>\n<\/div>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

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