New Delhi: Passenger vehicle sales in India rose by 14.29 percent in November mainly due to a low base during the same month last year on account of demonetisation.
However, robust sales of utility vehicles and discounts have also helped sales of passenger vehicles (PVs) grow last month to 2,75,417 units as against 2,40,983 units in November last year, according the Society of Indian Automobile Manufacturers (SIAM).
"We had demonetisation last November. So, we have grown on a pretty low base of the same period last year. Also, heavy discounting plays a role during this period," SIAM Director General Vishnu Mathur told reporters here.
Car sales rose 4.49 percent to 1,81,395 units as against 1,73,607 units in November last year. Interestingly, in terms of production, the segment showed zero percent growth from November last year.
Vehicle sales across categories registered a rise of 24.05 percent to 19,39,671 units from 15,63,658 units in November 2016.
With the overall automobile sales, including PVs, commercial vehicles (CVs) and two-wheelers, recording a growth of 9.29 percent during April-November period this fiscal, SIAM expects the overall industry growth to be around 8-10 percent during the current fiscal.
"If it happens (8-10 percent growth), it would be the best growth over the last six financial years," SIAM Deputy Director General Sugato Sen said.
The overall auto industry had grown by 6.81 percent in 2016-17, 3.78 percent in 2015-16, 7.06 percent in 2014-15, 3.54 percent in 2013-14 and 2.49 percent in 2012-13.
In the PV segment, Maruti Suzuki India posted a growth of 14.32 percent at 1,44,297 units, while rival Hyundai Motor India was up 9.98 percent at 44,008.
Mahindra & Mahindra also posted an increase of 21.66 percent at 15,990 units. Homegrown rival Tata Motors saw a growth of 38.14 percent at 18,832 units in November this year.
Total two-wheeler sales in November rose 23.49 percent to 15,35,277 units compared to 12,43,246 units in the year-ago month.
Motorcycle sales last month increased by 23.25 percent to 9,59,122 units compared to 7,78,173 units in November 2016.
Market leader Hero MotoCorp posted domestic sales of 5,10,749 units as against 4,14,709 units in the year-ago month, up 23.15 percent.
Rival Bajaj Auto saw its bike sales rise 1.56 percent to 1,41,948 units as against 1,39,765 units in the same month last year. Honda Motorcycle and Scooter India (HMSI) saw its sales rise by 56.13 percent to 1,50,420 units as against 96,338 units in November 2016.
In the scooters segment, total sales last month were at 5,06,267 units as against 3,88,692 units in November last year, up 30.25 percent.
Segment leader HMSI posted sales of 2,81,704 units as against 2,03,076 units in the year-ago month, up 38.71 percent, while Chennai-based TVS Motor Co had sales of 76,084 units as compared to 69,759 units in November 2016, a jump of 9.06 percent.
Hero MotoCorp's scooter sales were at 77,783 units last month as against 53,410 units in November last year, up 45.63 percent.
Sales of commercial vehicles were up 50.43 percent to 68,846 units in November, SIAM said.
"Goods carrier segment and trucks have grown mainly on enhanced spending by the government on infrastructure projects. However, bus segment remains impacted as government buying remains on a slow pace," Mathur said.
Published Date: Dec 11, 2017 17:48 PM | Updated Date: Dec 11, 2017 17:48 PM