The Indian Auto Industry has been crawling since three years, but it seems that it will gain momentum in 2015 due to drop in fuel prices and reduced interest rates. This year, the Automobile Industry is expecting better sales number. The developing economy of India, reduced fuel prices, and lower interest rates are helping Auto Sales, to have a blast.
"The recent cut in interest rate, oil pricing coupled with waning cost of ownership are currently supporting the overall momentum. For 2015, we expect the light vehicle -- passenger cars and light trucks -- production to grow at 6%, while medium and heavy commercial vehicles are likely to bounce back at 12% this year," said Amit Kaushik - Principal Analyst at IHS Automotive, one of the world's largest forecasting agency. "Post budgetary reforms will further support the overall momentum for the industry in times ahead."
The domestic bus sales are now expected to hike by 12% and the demand of trucks has also increased. Boost in the sales of two-wheelers is also expected.
As RBI slashed the Repo Rate, many private sector banks are trimming their interest rates. Also, the top Automobile Industries are launching their new, classic and breathtaking cars this year. So, this is the accurate time to get your dream car. Take a look at Car Loan Interest Rates and apply online for the best Car Loan. Get instant approval with Dialabank and enjoy the ride of your dream car.