Loading page content
Data from FMP. Forecasts by Sigmanomics Forecast Engine.
IndiaIndia Passenger Vehicles Sales MoM fell to 3.2% in December 2023
FMPMonthlyReleased January 2024
India Passenger Vehicles Sales MoM fell to 3.2% in December 2023, released January 2024, down 1.1% from November's 4.3% reading.
Latest Release
3.200000
Actual
—
Consensus
4.300000
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/INR | ▼ Inverse | −0.50 | FOREX | Bullish INR | → View |
| XAU/USD | ▲ Direct | +0.35 | COMMODITIES | Watch | → View |
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Watch | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Passenger Vehicles Sales MoM (India) was reported at 3.2% in January 2024. The reading fell from the previous value of 4.3%.
WHY IT MATTERS
The trailing three releases averaged 5.53%, up from the prior three at 3.27%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/INR (Bullish INR). A secondary relationship exists with XAU/USD, positively correlated (Watch).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Industrial Production YoY (May 28) and Manufacturing Production YoY (May 28).
Auto-generated from current model state · Refreshes on each release · Last update January 2024.
SHARE
Passenger Vehicles Sales MoM - IN
Loading chart data...
About Passenger Vehicles Sales MoM — India
DEFINITION
Passenger Vehicles Sales MoM (Month-over-Month) is a key financial indicator that measures the change in the number of passenger vehicles sold by manufacturers on a monthly basis. This indicator provides valuable insights into the current state of the automotive industry and consumer spending habits. It is widely used by investors, analysts, and policymakers to track the health of the economy and make informed decisions. A positive trend in Passenger Vehicles Sales MoM indicates a growing demand for cars, while a negative trend may signal a slowdown in the industry.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Dec 2023): actual 3.2 %. Prior reading (Apr 2023): 13.4 %. Before that (Mar 2023): 0 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with USD/INR (Bullish INR, r=-0.50) — a useful reference for forex-focused traders.