Car sales grow marginally by 0.38%, passenger vehicles up 1.6% 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 October last year, according to data released by the Society of Indian Automobile Manufacturers (SIAM) Friday.

 

Mumbai:
Domestic passenger vehicle sales rose 1.55 per cent to 2,84,224 units in October as against 2,79,877 units in the same month last year.

 

Car sales grew marginally by 0.38 per cent to 1,85,400 units last month as against 1,84,706 units in October last year, according to data released by the Society of Indian Automobile Manufacturers (SIAM) Friday.


Motorcycle sales last month grew 20.14 per cent to 13,27,758 units compared to 11,05,140 units in October 2017.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.

 

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

Meanwhile,after expanding at a brisk pace for the past several months, commercial vehicles (CV) sales are showing signs of cooling off.

 

Even as most companies saw a year-on-year growth in the October sales due to last year's weak base, sales have declined for quite a few firms on a sequential month-on-month basis, signaling a weakness in demand.


Cumulative sales of heavy-duty trucks of top four makers, including Tata Motors, Ashok Leyland, Volvo Trucks India, and M&M advanced at 11.5 per cent to 23,818 units from the year-ago period, according to monthly auto sales released by the companies.

 

“The sales have moderated from 25 per cent last month to 15 per cent this month. This is despite last year’s low base,” said S P Singh, a senior fellow at Indian Foundation of Transport Research and Training 


Comments