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