Reaction quote from Grant Thornton: SIAM data

“The increase in overall vehicle sales at the wholesale level (an all-time high dispatch for passenger vehicles combining passenger cars and  utility vehicles) is a reflection of the conditions – GST leading to price revision and expectation of increased offtake at the retail end. Positive monsoon spell and beginning of festival days also increases this expectation. Is this a beginning of a trend for this financial year, which the auto industry is eagerly waiting for? We could get the answers based on the performance in the next three to four months , which will confirm the expectation of the industry. However frequent changes in taxes and policies will dampen the spirits of the industry and the customers, which will mirror in the performance going forward. Increase in exports have been minimal or negative in the case of passenger cars and commercial vehicles respectively, indicating tough times in other markets.”