Indian Automobile Industry has a Good Beginning this Financial Year

Mahindra plant

The Indian automobile industry has begun the year on a positive note with very good performances in production and domestic sales. The same is not reflected in the international business though.

The industry produced a total 2,118,240 vehicles including passenger vehicles, commercial vehicles, three wheelers, two wheelers and quadric-cycle in April 2016 as against 1,909,842 in April 2015. With this, the industry has registering a growth of 10.91 percent over the same month last year.

The sales of automobiles have also joined the rally. In April 2016, the sales of passenger vehicles grew by 11.04 percent over April 2015. In the passenger vehicles segment – passenger cars, utility vehicles and vans grew by 1.87 percent, 42.83 percent and 16.46 percent respectively during April 2016 over the same month last year.

The overall commercial vehicles segment registered a growth of 17.36 percent in April 2016 as compared to the month of April last year. The medium & heavy commercial vehicles (M&HCVs) segment recorded a growth of 21.98 percent while the light commercial vehicles grew by 14.01 percent during April 2016 over April 2016.

Three-wheelers sales grew by 36.68 percent in April 2016 over the same month last year. Passenger and Goods Carrier sales grew by 44.69 percent and 7.64 percent respectively in April 2016 over April 2015.

Two Wheelers sales registered a growth at 21.23 percent during April 2016 over April 2015. Within the Two Wheelers segment, Scooters, Motorcycles and Mopeds grew by 35.86 percent, 16.24 percent and 10.71 percent respectively in April 2016 over April 2015.

International Business

In April 2016, overall automobile exports declined by (-) 15.87 percent. While the passenger vehicles segment registered a growth of 6.61 percent and remaining segment like, commercial vehicles, three-wheelers and two-wheelers declined by (-) 2.68 percent, (-) 61.86 percent and (-) 10.80 percent respectively in April 2016 over April 2015.

The data is based on a report published by Society of Indian Automobile Manufacturers(SIAM).

NO COMMENTS

LEAVE A REPLY