Pas­sen­ger ve­hi­cle sales edge up in Oc­to­ber af­ter fall­ing 3 months in a row

The Hindu Business Line - - NEWS -

Af­ter a fall in sales for three months in a row, the pas­sen­ger ve­hi­cle seg­ment saw a mar­ginal growth in Oc­to­ber when com­pared with the same month in 2017.

Sales of pas­sen­ger ve­hi­cles (PV) — in­clud­ing cars, util­ity ve­hi­cles, and vans —grew 1.6 per cent at 284,224 units in Oc­to­ber this year.

While car sales were al­most flat at 185,400 units, the UV seg­ment — which was see­ing a sharp fall in sales — re­ported a five per cent growth at 82,414 units.

Vans also grew four per cent at 16,410 units, ac­cord­ing to the data pro­vided by the So­ci­ety of In­dian Au­to­mo­bile Man­u­fac­tur­ers (SIAM).

Pas­sen­ger ve­hi­cle mak­ers were look­ing for de­cent re­vival in sales dur­ing fes­ti­val sea­son in Oc­to­ber af­ter a tem­po­rary lull due to incheer The flat car sales and mod­est in­crease in UV vol­umes in­di­cate that the fes­ti­val sea­son failed to spur de­mand

crease in fuel price, higher in­sur­ance cost and Ker­ala floods.

No cheer

The flat car sales and mod­est in­crease in UV vol­umes in­di­cate that the fes­ti­val sea­son failed to spur de­mand.

How­ever, fall­ing fuel prices in the past cou­ple of weeks could pro­vide some

and the in­dus­try is hope­ful of main­tain­ing pos­i­tive growth in the com­ing months.

Bar­ring pas­sen­ger cat­e­gory of light com­mer­cial ve­hi­cle (LCV) seg­ment, LCV goods, goods and pas­sen­ger seg­ments of medium and heavy com­mer­cial ve­hi­cle (M&HCV) seg­ment, three­wheel­ers and two-wheel­ers re­ported growth in the range of mid-sin­gle digit to dou­ble digit dur­ing Oc­to­ber.

In M&HCV, truck sales grew 17 per cent at 28,482 units, while sales of buses rose by 24 per cent to 2,350 units.

Truck is one seg­ment that has been main­tain­ing a de­cent dou­ble digit growth in sales for the past sev­eral months.

2-wheeler seg­ment

Amid con­cerns over in­creased in­sur­ance premium and cau­tious lend­ing en­vi­ron­ment, sales in the twowheeler seg­ment were pos­i­tive.

Scooter sales re­mained in a moder­ate growth curve, while bikes sales zoomed on the back of strong de­mand in ru­ral areas.

Scooter vol­umes grew 13 per cent at 6,43,382 units, while bike sales rose 20 per cent at 13,27,758 units.

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