Synopsis
Latest government data suggests that in India, growth of private consumption expenditure, or the amount people spend on buying goods and services, has fallen from 20% to 2.1% during April-December 2022. At the same time, luxury car makers are reporting one of their best years in terms of units sold. What does it mean for the economy?
Mercedes-Benz, BMW and Audi have all clocked better sales in 2022 when compared to 2021. Bajaj Auto, one of India’s top two-wheeler manufacturers, has seen 10% decline in sales during the same period.This may not be an apples to apples comparison but jewellery and watches manufacturer, Titan has seen 1.5x rise in net profits for the current fiscal. At the same time, Crompton Greaves, a manufacturer of home appliances and lighting among other
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