Lalan ji of Nagpur is a hot investor. They get hot sometimes, but if people's expenses keep on increasing, then the wheel of progress will continue to spin. Some headlines do not let him sleep amidst the preparations for the festivals. Customers of small cars, low-cost bikes, scooters have gone missing in India. The demand for cheap mobile handsets is breaking down. Affordable housing sales are not increasing.
Where has the revolution stuck: In the last four years, sales of entry-level cars have declined by 25%. The demand for SUVs and expensive (above one million) cars has increased. Maruti Chairman RC Bhargava had to say that the market for small cars is ending. In the quarter of June 2022, sales of affordable (110 cc) bikes fell by 42%. The market for 125 cc scooters also shrunk by about 36% during this period. According to SIAM, two-wheeler sales in India in FY 2022 leveled off on the small car model of Ford's ten-year low automobile revolution. The world started with -T but its tree grew on the land of India. By 2010, all major car companies in the world started manufacturing or assembling in India. The last record of vehicle sales was made in 2017-18, when 33 lakh cars, 20 million bikes were sold. Then sales started falling. Finance companies drowned. Demand began to shrink. Then came Kovid. Now the market for small cars, cheap bikes is shrinking, while Mahindra's premium car Scorpio N got one lakh bookings in 30 minutes in July.
What is this in mobile In the June quarter, the sales of mobiles above Rs 40,000 grew by about 83%, while the sale of cheap mobiles of Rs 8000 declined. Counterpoint Research's report and industry data show that mobile sales up to Rs 10,000 have shrunk by almost 25%. Mobile handsets have become expensive due to the lack of parts. Even after increasing the trend of online education, cheap smartphones did not sell.
Ghar Ka Sapna Property Consultant Anarock said that in the first half of 2022, the demand for expensive homes (above 15 million) doubled in the total home sales. In 2019, the share of luxury homes in home sales was just 7% during the year. Of the 2.36 lakh new houses launched in 2021 in 7 major cities of the country, 63% are in the mid, high-end segment (40 lakh and 1.5 crore). The share of affordable housing in new housing projects stood at 26%, up from 40% in 2019.
Contrary to expectations: Before Kovid, it was told that automobiles, mobile phones and houses are the engines of employment and growth. The car market in India (22 cars per 1000 people) is small. Two wheelers were also owned by 49% of the households. Despite this, automobiles accounted for 49% of India's manufacturing and 7.5% of GDP by 2018. About 32 lakh jobs were being generated from here. With ancillary industries and services, the Indian automobile industry is ranked fourth in the world with a valuation of $100 billion in 2018.
