Wholesale of Automobiles Slows Down in June Due to Stock Liquidation by Dealers

Indian Automobile

The wholesale of Indian automobile market slowed down in the month June as there was stock liquidation as the dealers’ level. Most of the companies went on for the stock liquidation spree so as to clear the stock and generate more revenue prior to the implement of GST(Goods and Services Tax).

Production

The automobile industry produced a total 6,914,544 vehicles including two wheelers, three wheelers, quadricycle, passenger vehicles and commercial vehicles, in April-June 2017 as against 6,431,938 in April- June 2016, registering a growth of 7.50 percent over the same period last year.

 Domestic Sales

The sale of Passenger Vehicles grew by 4.38 percent in April-June 2017 over the same period last year. Within the Passenger Vehicles, Passenger Cars, Utility Vehicle and Vans grew by 3.89 percent, 7.53 percent and (-) 2.96 percent respectively in April-June 2017 over the same period last year.

The overall Commercial Vehicles segment went down by (-) 9.08 percent in April-June 2017 as compared to the same period last year. Medium & Heavy Commercial Vehicles (M&HCVs) declined by (-) 31.82 percent, while Light Commercial Vehicles grew by 7.78 percent in April-June 2017 over the same period last year.

Three Wheelers sales declined by (-) 24.75 percent in April-June 2017 over the same period last year. Within the Three Wheelers, Passenger Carrier sales registered a de-growth of (-) 30.82 percent, while Goods Carrier grew by 3.68 percent in April-June 2017 over April-June 2016.

Two Wheelers sales registered a growth at 7.78 percent in April-June 2017 over April-June 2016. Within the Two Wheelers segment, Scooters and Motorcycles grew by 20.06 percent and 3.44 percent respectively, while Mopeds declined by (-) 10.92 percent in April-June 2017 over April-June 2016.

Export Sales

In April-June 2017, overall automobile exports grew by 13.74 percent. While Passenger Vehicles, Three Wheelers and Two Wheelers registered a growth of 13.79 percent, 24.67 percent and 14.75 percent respectively, Commercial Vehicle exports declined by (-) 34.02 percent in April-June 2017 over the same period last year.

As informed by Society of Indian Automobile Manufacturers (SIAM). Production of Indian auto industry grows by 11.74% during April-June 2016

NO COMMENTS

LEAVE A REPLY