Passenger vehicle sales grows over 6% in Q1; CV rises 13%: SIAM
This growth in sales was on the back of sales of utility vehicles (UV) which posted a 38.04% growth.
Passenger vehicles sales in April-June 2016 (Q1FY17) grew by 6.66% over the same period last year, according to data by the Society of Indian Automobile Manufacturers (SIAM). This growth in sales was on the back of sales of utility vehicles (UV) which posted a 38.04% growth.
The sales of passenger cars and vans however was poor during the month and as a result the automobile growth in the country was in a single digit. While sales of vans grew by 3.87% in April-June 2016, passenger cars sales on the other hand declined by 1.41% in comparison with the same period last year.
The commercial vehicles segment on the other hand saw a double-digit growth in sales. The overall commercial vehicles segment registered a growth of 12.99% in April-June 2016 as compared to the same period last year, said SIAM.
Medium and heavy commercial vehicles (MHCVs) registered a growth at 14.49% and light commercial vehicles grew by 11.91% during April-June 2016 over the same period last year.
Three-wheeler sales grew by 23.39% in April-June 2016 over the same period last year. Passenger and goods carrier sales grew by 26.40% and 11.05% respectively in April-June 2016 over April-June 2015.
Two-wheeler sales registered a growth at 14.26% during April-June 2016 over April-June 2015. Within the two-wheelers segment, Scooters, Motorcycles and Mopeds grew by 27.12%, 8.87% and 18.33% respectively in June over the same month last year.
However, automobile exports had declined by 9.70% in April-June 2016. This was due to a decline in exports of three-wheelers and two-wheelers by 46.22% and 8.30%, respectively. Passenger vehicles and CV exports registered a growth of 12.14% and 7.22%, respectively.