New Delhi: Automotive dealers body FADA is confident of the sector clocking double-digit growth in the ongoing fiscal year, with good traction on the ground continuing since the GST rate cuts last year, its CEO Saharsh Damani said Monday.
In an interview with PTI, he observed that rural passenger vehicle demand will continue to outpace urban demand, and all automotive segments will continue to outperform this festival season.
“The base for the last six months compared to six months of last year was very low, and therefore we have seen extremely good growth coming in during the first six months. Post 22 September last year, the GST 2.0 rate cut was announced, so we are keeping a close watch on how post 22nd September this year onwards the growth will look like, because that will be the actual litmus test for the industry,” Damani told PTI.
Sharing his outlook on the festive season and second half of the financial year beginning October, the FADA CEO said there is good traction on the ground, which is making its hopes much stronger for the performance in the second half of the fiscal.
“For the full financial year ending March 27, I think we’ll have, we can aim for a double-digit growth, or maybe in a 9 to 11 or 12 per cent range. So that is the growth number what we are looking out for the full financial year,” Damani said.