Not sure if people in Mini/compact is upgrading to SUVs. Income gap is huge. I think spending in mid-lower segment is going down. So i was looking from an angle of consumption going down in these segments, if so, will also affect other industries like FMCGs/Textile, etc.
Anyway will look forward Q3 numbers (post festive) to see the trend.
Pls correct me if my analysis is wrong!
Model wise sales breakup will give a better pic i think