Passenger vehicle sales rise by more than 14% in November

Cornelia Mascio
Dicembre 12, 2017

Passenger vehicles (PVs), usually the star performer, grew 14 per cent, lowest among all segments.

Sales of passenger vehicles in the country rose by over 14% to more than 2.75 lakh units in November 2017, compared with a growth of 0.30% in October 2017, according to data released by the Society of Indian Automobile Manufacturers (SIAM).

The sale of Passenger Vehicles grew by 8.46 percent in April-November 2017 over the same period a year ago. Motorcycle sales increased by 23.25% to more than 9.59 lakh units while scooter sales rose 30.25% to more than 5.06 lakh units.

Vehicle sales rose 4.49 per cent to 1,81,395 units against 1,73,607 units a year ago.

Medium & Heavy Commercial Vehicles (M&HCVs) increased by 1.19 percent and Light Commercial Vehicles grew by 17.07 percent in April-November 2017 over the same period a year ago.

While medium and heavy commercial vehicle segment grew at 62.63% to 28,459 units during the last month, light commercial vehicle sales rose 42.87% to 40,387 units. "The goods carrier segment and trucks have grown mainly on enhanced spending by the government on infrastructure projects. However, the bus segment remains impacted, as government buying remains on a slow pace", said Vishnu Mathur, director general at Siam.

"We had demonetisation last November".

Robust sales of utility vehicles and discounts also helped the sales of passenger vehicles (PVs) to grow last month to 2,75,417 units from 2,40,983 units in November past year, Siam said on Monday.

The performance of vehicle makers across categories, though commendable, will also have to be seen in the light of the low base in November 2016 in the wake of demonetisation, said Sridhar V, partner, Grant Thornton India LLP. "Having said that, the companies have still shown growth which is closer to the highest average monthly sales in the previous financial year", said Sridhar V, partner at Grant Thornton India. Vehicle sales across categories registered a rise of 24.05% to 1,939,671 units from 1,563,658 units in November 2016, it added.

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