Monday, 30 January 2017
Sensex, Nifty Start Budget Week Flat; L&T, ITC, ICICI Up
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The auto sector, which saw a revival last year after two years of turbulence, is set to continue the momentum this year with demand picking up across all segments, says a report.
Growth of the auto industry is expected to continue in 2017 across all vehicle categories-commercial and passenger vehicles, as well as two and three-wheelers. But it is unlikely that the industry will maintain the sales growth of 2016 due to the note ban impact and the uncertainty regarding the GST, says Dun & Bradstreet in a report.
The report, however, does not quantify its proejction. In 2016, auto sales grew 9.2 percent driven by two- wheelers that moved up by 9.6 percent from 0.7 percent in 2015. At the same time, cars clipped at 7 percent and commercial vehicles grew 7.8 percent.