Utility vehicle sales save day for automobile firms

Greater Noida, Feb 12: Domestic passenger vehicle sales grew by 7.57 per cent to 2,85,477 units in January this year, riding on a robust growth of utility vehicles which posted the second highest ever monthly volume.

According to the data released by the Society of Indian Automobile Manufacturers (SIAM) on Monday, domestic passenger vehicle (PV) sales were at 2,65,389 units in the same month last year.

Car sales, however, declined by 1.25 per cent to 1,84,264 units last month as against 1,86,596 units in January last year.

“The overall growth in the PV sales in January is as per expectations and is also a reflection of the mood ahead of the Auto Expo,” SIAM director general Vishnu Mathur said.

The growth driver continues to be the utility vehicles (UV) segment, as it continued to draw a lot of customers, he added.

UV sales during the month stood at 85,850 units as against 62,263 units in the same month last year, a growth of 37.88 per cent, SIAM said.

“The UV sales in January this year is the second highest in terms of volumes after the highest clocked in July last year at 86,874 units,” he said.

The car segment is going through flat sales with the entry level segment not witnessing new model launches while customer preference has been shifting towards crossovers and compact SUVs, he added.

In January, market leader Maruti Suzuki India posted a growth of 4.05 per cent in its domestic PV sales at 1,39,189 units. Hyundai Motor India saw a growth of 8.31 per cent at 45,508 units.

Mahindra & Mahindra posted a growth of 17.73 per cent at 23,656 units, while Tata Motors saw its PV sales jump 48.58 per cent to 21,872 units.

According to SIAM, total two-wheeler sales in January were higher by