Friday, January 27, 2023
HomeBusinessLuxury cars are not selling in India due to increasing investment in...

Luxury cars are not selling in India due to increasing investment in SIP, strange statement of Mercedes-Benz

SIP Investment Hurts Luxury Car Sales: These days the investment done through Systematic Investment Plan (SIP) in mutual funds is increasing continuously. In October 2022, the investment record in SIP has crossed Rs 13000 crore in just one month. Despite the huge fall in the stock market of major countries of the world, due to the increasing investment through SIP, the Indian stock market is trading at the level of historical high. But a top executive of Mercedes-Benz India, the legendary luxury car SUV maker, believes that the sales of luxury vehicles are suffering due to the increasing investment through SIP in mutual funds.

SIP became a rival of the luxury car industry
According to media reports, Santosh Iyer, Sales and Marketing Head of Mercedes Benz India said that Systematic Investment Plan is our biggest competitor. He said that I tell my team members that if you break the investment cycle of Systematic Investment Plan, then we will get tremendous benefit from it. That is, they say that if you are successful in stopping the investment in SIP or breaking it in the middle, then there can be a tremendous increase in the sales of luxury vehicles. According to Santosh Iyer, compared to western countries, people are more inclined towards savings in India. In the absence of social security, people invest and save for themselves and their children. He said that if a luxury car buyer, a potential customer who is saving Rs 50,000 through SIP investment, if that savings is diverted towards the luxury car market, then the luxury car industry will be of tremendous benefit.

Retail investors heavy on FII
When the Corona epidemic knocked in India in 2020 and due to this there was a lockdown in the country in March 2020. People were forced to stay locked in the four walls of the house. Due to the lockdown, the Indian stock market had fallen on its face. Sensex fell below 42000 to 27000 and Nifty from 12400 to 7500 level. But in this fall in the market, retail investors saw a big investment opportunity, who were left behind in capitalizing on the old boom. While staying at home, he started making record investments in mutual funds in the stock market. The effect of this was that despite the global upheaval in 2022, the Sensex is trading at its record high around 62,643 and the Nifty at 18,600. Retail investors have now dominated the Indian market over foreign investors.

Download Link

6 crore demat accounts opened in two and a half years
Till March 31, 2020, where there were only 4 crore demat accounts in the country, their number has increased to cross 10 crore. Since the lockdown till now 6 crore demat accounts have been opened. So in mutual funds also there was a huge increase in investment through SIP. Due to the increasing investment in SIP, the Indian stock market has remained unaffected by the fall in the stock markets around the world. Since May 2022, more than Rs 12000 crore has come into the investment market through SIP every month continuously.

MOBILE

Incredible iPiX iPhone Case with Battery, USB Hub, Magnets, Filters and Lights unveiled

Incredible iPiX iPhone Case with Battery, USB Hub, Magnets, Filters and...

The iPiX case for the iPhone 13 and iPhone 13 product lines (including Pro and Pro Max) has been successfully funded on Indiegogo. It has...
- Advertisment -

Auto

Two Wheeler

Digit News

Jobs