1. PV sales overcome note ban hump

PV sales overcome note ban hump

Motorcycles sales had clocked 7-8% growth till October but lost pace after that and has been more affected by demonetisation than cars.

By: | New Delhi | Published: March 11, 2017 5:20 AM
Total PV sales in FY16 stood at 2.78 million units and till February in the current fiscal, total sales have touched 2.72 million. (Source: Reuters)

Despite a temporary setback due to demonetisation, passenger vehicle sales are on course to cross the 3-million sales mark in FY17, the target set by Society of Indian Automobile Manufacturers, report fe Bureaus in New Delhi & Mumbai. Total PV sales in FY16 stood at 2.78 million units and till February in the current fiscal, total sales have touched 2.72 million. However, motorcycle sales will be behind the high-single-digit target of 7-9%. In FY16, total motorcycle sales stood at around 10 million, which was a flat growth compared with a year earlier. During the current fiscal, sales till February stand at 10.17 million. Generally, motorcycle sales are around 800,000-850,000 units a month, so the growth here will be marginal during FY17.

Motorcycles sales had clocked 7-8% growth till October but lost pace after that and has been more affected by demonetisation than cars. In February it declined by 3% against the same period last year. In commercial vehicles, sales are slated to witness a marginal growth but much behind SIAM’s 10% target. During the April-February period, sales have registered a small growth of 3.4%. During FY16 they had witnessed a strong double-digit growth of 11.5% on the back of brisk truck sales.

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