The Indian Auto industry is on the rise for the third consecutive quarter as overall the industry grows in double-digits backed by the strong sales of passenger vehicles. Overall in FY 2017-18 in the period April-December 2017 the sales of all vehicles (Cars, 2-Wheelers, 3-Wheelers and CVs) saw total sales of over 1.85 crore vehicles in the domestic market with a massive growth of 11.28%. The industry had sold 1.66 crore vehicles during the same period last financial year.The industry produced a total of 21,415,719 vehicles across all segments in the ongoing financial year with production too up by over 11%.
Domestic vehicle sales in India:
The sales of the passenger vehicle that includes cars, UVs and Vans grew by 8.13% this financial year over the same period last year. Over 24.25 lakh cars were sold in the Indian market in the first nine months of this financial year. Almost all top car makers in India have registered decent growth despite the shift to GST and addition of Cess on SUVs and luxury cars.
The overall commercial vehicles segment grew by 15.19 percent by selling 574,337 units as against 498,584 units sold in April-December 2016. However, exports of commercial vehicles declined by 18.10 percent as the industry sold 68,110 units to the export markets. Within CVs sales of medium and heavy commercial vehicles grew by 19.29 percent and light commercial vehicles sales are up by 19.29 percent.
Two-wheeler sales saw a growth of 11.76 percent in April-December 2017 period. The industry sold over 1.50 crore two-wheelers that include 50.87 lakh scooters, 93.60 lakh motorcycles and 6.32 lakh mopeds.
In this ongoing financial year overall automobile exports from India increased by 10 percent. Two and three wheelers exports increased by 17.7 and 30.2 percent respectively, while passenger vehicles and commercial vehicles exports declined by 3.40 and 18.10 percent respectively over the same period last year. Overall 29.78 lakh units were exported from India.Of the total cars and SUVs produced by automakers in India, about 20% are being exported out of the country and the growth has been restricted in the segment.All auto makers have increased its product prices by about 3-5 percent due to increase in commodity prices and rising input costs.SIAM says no new models launches by auto makers and more more facelifts and updates on existing products as automakers are gearing up for BSVI emission norms.