Pas­sen­ger ve­hi­cle sales rise by 1.55% in Oct

The Hitavada - - BUSINESS -

DO­MES­TIC pas­sen­ger ve­hi­cle sales rose 1.55 per cent in Oc­to­ber, snap­ping three months of con­sec­u­tive de­cline, al­though low mar­ket sen­ti­ments af­fected fes­tive sea­son de­mand, So­ci­ety of In­dian Au­to­mo­bile Man­u­fac­tur­ers (SIAM) said on Fri­day.

Ac­cord­ing to the lat­est data re­leased by SIAM, pas­sen­ger ve­hi­cle (PV) in Oc­to­ber stood at 2,84,224 units as against 2,79,877 units in the year-ago month.

In July, Au­gust and Septem­ber PV sales have de­clined by 2.71 per cent, 2.46 per cent and 5.61 per cent, re­spec­tively.

SIAM Di­rec­tor Gen­eral, Vishnu Mathur, said pos­i­tive growth in PV sales wit­nessed in Oc­to­ber is re­flec­tive of the over­all trend in the au­to­mo­bile in­dus­try.

Over­all, the data shows pretty healthy growth. There is a pos­i­tive move­ment in the au­to­mo­bile in­dus­try, he said.

Ve­hi­cle sales across cat­e­gories reg­is­tered a growth of 15.33 per cent to 24,94,426 units from 21,62,869 units in Oc­to­ber 2017.

On PVs, Mathur said, “The slow growth is mainly due to base ef­fect be­sides other fac­tors such as in­crease in in­sur­ance, high fuel prices and de­cline in stock mar­ket im­pact­ing sen­ti­ments.”

When asked if those fac­tors af­fected fes­tive mood, Mathur said, “The real im­pact of fes­tive sales will be known only next month as Di­wali was in No­vem­ber this year. How­ever, till the end of Oc­to­ber, sales have been slow and it wasn’t like fes­tive sea­son.”

He, how­ever, said SIAM was main­tain­ing its growth fore­cast for PVs at 7-9 per cent for the fis­cal. In the April-Oc­to­ber pe­riod this fis­cal, to­tal PV sales have grown by 6.10 per cent to 20,28,529 units as against 19,11,883 units in the year-ago pe­riod, SIAM said.

SIAM Deputy Di­rec­tor Gen­eral, Su­gato Sen, said Oc­to­ber PV sales were as per ex­pec­ta­tions and go­ing for­ward the in­dus­try body ex­pects it to pick up fur­ther in the re­main­ing part of the fis­cal.

Dur­ing the month, mar­ket leader Maruti Suzuki In­dia posted a mar­ginal growth of 0.61 per cent in PV sales at 1,35,948 units. Ri­val Hyundai Mo­tor In­dia also posted 4.87 per cent in­crease at 52,001 units. Home­grown util­ity ve­hi­cle ma­jor Mahin­dra & Mahin­dra posted 2.75 per cent in­crease in its PV sales at 24,056 units in Oc­to­ber.

In Oc­to­ber, car sales grew marginally by 0.38 per cent to 1,85,400 units last month as against 1,84,706 units in the same month last year.

SIAM said to­tal two-wheeler sales in Oc­to­ber were up 17.23 per cent to 20,53,497 units as against 17,51,608 units in the year-ago month.

The growth was mainly on the back of good mo­tor­cy­cle sales, which in­creased 20.14 per cent last month to 13,27,758 units com­pared to 11,05,140 units in Oc­to­ber 2017.

“There is a strong de­mand com­ing from ru­ral mar­kets for mo­tor­cy­cles which is driv­ing the sales growth to a large ex­tent,” Mathur said.

Dur­ing the month, mar­ket leader Hero Mo­toCorp saw its bike sales grow by 18.83 per cent to 6,42,374 units.

Ri­val Ba­jaj Auto also wit­nessed a 33.1 per cent jump at 2,81,582 units, while Honda Mo­tor­cy­cle and Scooter In­dia (HMSI) also posted 16.33 per cent growth in its bike sales at 1,68,020 units in Oc­to­ber. Scooter sales in Oc­to­ber were at 6,43,382 units as against 5,71,431 units in the same month last year. Mar­ket leader HMSI’s scooter sales were at 3,22,115 units in Oc­to­ber, up 9.89 per cent.

Chen­nai-based TVS Mo­tor Co posted 41.46 per cent jump in its scooter sales at 1,45,737 units, while Hero Mo­toCorp wit­nessed a de­cline of 8.5 per cent at 73,685 units in Oc­to­ber this year.

Sales of com­mer­cial ve­hi­cles jumped 24.82 per cent to 87,147 units in Oc­to­ber as against 69,816 units in the year-ago month, SIAM said.

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