LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

Car sales rise by nearly 5% in May; marginal impact in June sale due to GST: SIAM

Domestic car sales grew by just 5% in May after it had posted a 15% growth in April. Two-wheeler sales however managed to recover posting a double-digit growth in sales during the month.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Car sales rise by nearly 5% in May; marginal impact in June sale due to GST: SIAM
Cars parked at a dealership. Photo: Pixabay
Written By: ZeeBiz WebTeam
Updated: Fri, Jun 09, 2017
11:40 am
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Maruti Suzuki dominates domestic car sales but struggles in exports Maruti Suzuki dominates domestic car sales but struggles in exports
Tata Motors' car sales rise by 27% in May powered by Tiago, Tigor, Hexa Tata Motors' car sales rise by 27% in May powered by Tiago, Tigor, Hexa
Mahindra posts 3% rise in car sales in May; good double-digit growth in CV sales Mahindra posts 3% rise in car sales in May; good double-digit growth in CV sales
Maruti Suzuki posts 15.5% rise in car sales in May Maruti Suzuki posts 15.5% rise in car sales in May
Hyundai records marginal 3.6% growth in car sales in April Hyundai records marginal 3.6% growth in car sales in April
Key highlights:
  • Car sales rise by 4.8% in May
  • Two-wheeler sales growth rises by 11.8%
  • CV sales struggle as sales fall by 6.7% in May

Car sales in May 2017 registered a 4.8% growth said industry body, the Society of Indian Automobile Manufacturers (SIAM) on Friday. India's domestic car sales grew to 1,66,630 units from 1,58,996 units in the same month a year ago. This was a 12.7% month on month rise in sales.

SIAM's Director General Vishnu Mathur further sees marginal impact on June sales before the rollout of the goods and service tax (GST). Mathur said this while speaking at a press briefing at New Delhi, according to a Bloomberg report.

The domestic passenger vehicle sales increased by 8.6% as it sales grew to 2,51,642 units in May 2017 from 2,31,640 units sold in the corresponding month last year.

India’s passenger vehicle sales rose by 15% to 277,602 units a month back in April. This shows a slowdown in passenger vehicle growth during the month of May.

ALSO READ: Mini, compact cars drive 15% growth in sales in April: SIAM

SIAM data further showed that commercial vehicle sales had take a hit during the month. Sales of trucks and buses declined by 6.7% during the month as it sales slipped to 53,457 units from 57,089 units sold May last year.

Domestic two-wheeler sales however seen a good recovery during the month post the demonetisation and Bharat Stage (BS) III vehicle ban to post a 11.8% growth during the month.

Two-wheeler sales grew to 16,96,325 units in May 2017 from 15,14,334 units sold during the same month last year.

ALSO READ: Two-wheeler sales recovery seen in May with several firms posting double-digit growth

A month ago in April car sales in saw a good growth of 14.68% as passenger vehicle sales grew to 2,77,602 units during the month this year from 2,42,060 units sold in April 2016. This SIAM said was driven by the mini and compact car segments.

Buoyed by good economic activity picking up after demonetisation and hopes of a normal monsoon had resulted in the high growth in car sales.

CV sales continue to struggle post the BS-III ban as pre-buying has lead to a slowdown in purchase of BS-IV vehicles which are higher priced.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Car salesCar sales MaySIAMTwo-wheeler salespassenger vehicle salescommercial vehiclesTruck salesMay 2017Auto
RELATED NEWS
Maruti Suzuki dominates domestic car sales but struggles in exports Maruti Suzuki dominates domestic car sales but struggles in exports
Tata Motors' car sales rise by 27% in May powered by Tiago, Tigor, Hexa Tata Motors' car sales rise by 27% in May powered by Tiago, Tigor, Hexa
Mahindra posts 3% rise in car sales in May; good double-digit growth in CV sales Mahindra posts 3% rise in car sales in May; good double-digit growth in CV sales
Maruti Suzuki posts 15.5% rise in car sales in May Maruti Suzuki posts 15.5% rise in car sales in May
Hyundai records marginal 3.6% growth in car sales in April Hyundai records marginal 3.6% growth in car sales in April

LATEST NEWS

FD fraud: SBI issues alert for customers, says avoid THESE things or else you will lose money

CBSE exams 2021 cancellation demand: Board has big update for Class 10, 12 students

Stock Market Outlook: Nifty, Bank Nifty support range REVEALED; Anil Singhvi says global cues, corona cases and FIIs data will be crucial

India leads US and China, administers 100 million COVID-19 vaccinations doses in 85 days

7th pay Commission: This is what Centre said about pending DA installments; staffers to get it by 'this' month

NURECA Share Price hits 20% UPPER CIRCUIT: Know the reason WHY

Gold price: Resistance, support for MCX Gold REVEALED, check crucial levels

Gold Price outlook, correction, resistance and target—EXPLAINED! This is what Experts say about yellow metal in near to medium term

Mid Cap Picks with Anil Singhvi: Bombay Burmah, Fine Organic and Gujarat Alkalies are Jay Thakkar's top recommendations

West Bengal election 2021: LIVE UPDATES! 75.93% voter turnout recorded till 5:24 pm; 4 people killed, 4 injured in firing incidents

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved