Automakers in India sold only 495 more passenger cars in November
Domestic passenger vehicle sales grew by a low 1.82% in November as passenger cars posted 0.29% growth and domestic sales of vans declined by 7.50%.
Passenger car sales in India in the month of November 2016 stood at 1,73,606 units. This is just 495 cars more than the same month of last year.
Car sales in November took a hit in sales due to the impact of demonetisation. Domestic passenger vehicle sales grew by a low 1.82% in November as passenger cars posted 0.29% growth and domestic sales of vans declined by 7.50%. according to Society of Indian Automobile Manufacturers (SIAM).
Total domestic passenger vehicle sales grew to 2,40,979 units in November 2016 from 2,36,664 units sold in the corresponding period last year. Passenger car sales grew to 1,73,606 units during the month from 1,73,111 units sold in the same month last year.
Van sales slumped 13,573 units in November 2016 from 14,673 units in the same month last year.
The only saving grace for passenger vehicle sales was a good growth posted from the sales of utility vehicles (UV), which rose by 10.07%. UV sales grew to 53,8000 from 48,880 units sold in November 2016.
As reported by Zeebiz earlier, commercial vehicle (CV) saw an 11.58% decline in sales as demand slipped due to demonetisation. Medium and heavy commercial vehicle sales dipped by 13.13% in November, light commercial vehicle (LCV) sales declined by 10.59%.
Three-wheeler sales were hit the most as it posted an even higher decline of 25.9% during the month. Two-wheeler sales too declined 5.85% during November.
Healthy export growth was the primary reason why some of the passenger car companies posted good sales figures despite demonetisation.
Exports passenger vehicles grew by 24% in November. This was led by the vans segment which grew by 44.09% in November. UV exports grew by 40.66% and passenger cars exports grew by 19.59%.
Exports of CVs too grew by a good 25.15% during the month of November.