PV SALES IN INDIA RISE TO A RECORD 3.3 MN UNITS IN FY18

Passenger vehicles sales in India were at a record high in 2017-18 touching almost 3.3 million units, growing at 7.89% driven by demand from smaller towns coupled with increasing popularity of utility vehicles.

According to the data released by the Society of Indian Automobile Manufacturers (SIAM) on Tuesday, domestic passenger vehicles (PV) sales were at 32,87,965 units beating the previous best of 30,47,582 units posted in 2016-17.

Domestic car sales in 2017-18 were at 21,73,950 units as against 21,03,847 units in 2016-17, displaying a growth of 3.33%. Utility vehicles (UV) sales were at 9,21,780 units last fiscal as against 7,61,998 units in 2016-17, a growth of 20.97%.

However, exports of PVs were down 1.51% at 7,47,287 units in 2017-18 as against 7,58,727 units in 2016-17.

Vehicle sales across categories also registered 14.22% growth at 2,49,72,788 units in 2017-18 as against 2,18,63,281 units in the previous fiscal. “We ended the year on a positive note with almost every segment posting positive growth, except passenger buses. This reinforces the fact that despite having a difficult year, the auto industry has shown its resilience,” SIAM director general Vishnu Matur told reporters here.

Last fiscal, the auto industry had to endure the lingering effects of demonetisation, impacts of transition from BS-III emission norms to BS-IV across India and implementation of GST in July last year, Mathur said.

He also said in the last threefour years top 20 cities that contribute to about 50% of the PV sales have shown slow growth.

NEW DELHI: