Demand for utility vehicles witnesses a whopping 38.04% growth
According to a recent report released by Society of Indian Automobile Manufacturers(SIAM), the Indian automobile industry produced a total 6,431,495 vehicles including passenger vehicles, commercial vehicles, two-wheelers, three-wheelers and quadricycle in April-June 2016 as against 5,755,638 in April-June 2015, which means the production grew by 11.74 percent in the first quarter this year against the same period last year.
The sales of passenger vehicles increased by 6.66 percent in April-June 2016 over the same period in 2015. Within the passenger vehicles segment, passenger cars, utility vehicles and vans grew by (-) 1.41 percent, 38.04 percent and 3.87 percent respectively during April-June 2016 over the same period last year.
The overall Commercial Vehicles segment registered a growth of 12.99 percent in April-June 2016 as compared to the same period last year. Medium & heavy commercial vehicles (M&HCVs) witnessed a growth rate of 14.49 percent and light commercial vehicles grew by 11.91 percent during April-June 2016 over the same period last year.
In April-June 2016, three-wheelers sales grew by 23.39 percent over the same period last year. Passenger and goods carrier vehicles sales rose by 26.40 percent and 11.05 percent respectively in April-June 2016 over April-June 2015.
Sales of two-wheelers registered a growth at 14.26 percent during April-June 2016 over April–June 2015. Within the two-wheelers segment, scooters, motorcycles and mopeds increased by 27.12 percent, 8.87 percent and 18.33 percent respectively in April-June 2016 over April-June 2015.
However, the Indian auto Industry has not been able to make a mark in the international market this time. In the recent quarter, overall automobile exports declined by (-) 9.70 percent. While passenger vehicles and commercial vehicles exports increased by 12.14 percent and 7.22 percent respectively, three wheelers and two wheelers export also declined by (-) 46.22 percent and (-) 8.30 percent respectively in April-June 2016 over the same period last year.