The first half of FY 2015 has been exciting for the Indian Automotive Industry, as it saw some major developments. These include attractive interest rates on vehicle loans, lower fuel prices, and new product launches in the Car, SUV, Bus and Two wheeler segments. M&HCV segment in particular showed immense growth largely due to favorable market dynamics. Prices have also been revised accordingly by most of the major OEMs. Due to the upcoming festive season, sales are expected to rocket sky high in the third quarter of FY 16.
Maruti Suzuki is testing a new strategy to penetrate the premium segment by introducing the “NEXA” brand under the Suzuki name but the general consensus is that it would be tough to compete with the already acclaimed S Cross. NEXA would need more features under its hood to catch expected market share. Unlike Maruti S Cross which already had a nice ground before its launch, the Hyundai Creta wasn't all that remarkable, however it caught pace later on and has established itself very well. Mahindra’s TUV 300 launched at a very competitive price along with lots of electronic promos. Experts reckon it could be a game changer if the interiors are well done than the existing trend. Coming to Ford, with the launch of its updated Figo, the competitive segment is attractive again, and as always OEMs are focusing majorly on this segment taking into account India’s budget minded market. Last but definitely, not the least, the luxury segment too saw a boost due to new model launches.
The recent Renault ads have been successful in boosting its awareness due to a new brand strategy adopted by them. Catchy songs and popular actors endorsing them in turn have turned fruitful. Except other brands to follow suit soon.
Commercial Vehicle sales are mixed and trend is patchy as ever. M&HCV segment showed a double digit growth but the case of SCV & LCV was just the opposite. It will be interesting to see how electric buses impact the Bus segment.
Two wheeler segments are also expected to house some new trends.
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