Indian automobile industry is on the rise and in the month of May 2018, the overall industry sold a total of 22.82 lakh units selling almost 73,632 units every day. Almost every segment including the likes of Passenger vehicles, Commercial vehicles and two-wheelers have posted significant growth. Overall, vehicle sales in India registered a growth of 12.13% over May 2017. The industry had seen a sales of 20.35 lakh units in the same month last year as per data released by Society of Indian Automobile Manufacturers (SIAM).
Sales of cars, UVs and vans (passenger vehicles) saw a total sales of over 3.01 lakh units last month growing by 19.65%. Within PVs sales of cars in India registered a total of 1.99 lakh units growing at massive 19.64%. New car launches like 2018 Honda Amaze and new Toyota Yaris has helped the car segment to grow.
In May 2017, the sales of cars stood at 1.66 lakh which was low due to the anticipation of a price cut on cars before GST which did not come through. Sales of UVs dominated by SUVs in India saw a total sales of 82,086 units. Sales of Vans in India stood at 19,673 units.
Vishnu Mathur, Director General, SIAM said that the “auto industry is well on track to post high-growth and has been performing consistently. We expect good monsoons and a strong demand from both urban and rural areas. However, the growth is not uniform across all companies especially in passenger vehicle segment.”
Sales of commercial vehicles (CVs) in India has reported a massive jump of 43.06% by selling over 76,478 units in May 2018. This is however compared to a lower base of 53,457 units in May 2017. Within CVs, M&HCV sales stood at 30,128 units and LCVs at 46,350 units.
Vishnu Mathur added that “infrastructure development and high demand from various institutes and also state-run transportation services has helped the overall CV industry.”
Two-Wheeler sales in India has gone up by 9.19% by selling over 18.50 lakh units as against 16.94 lakh units sold in the same month last year. Scooter sales in India has declined for the first time in 15 months by a marginal 1.40% by selling 5.55 lakh units. Motorcycle sales in India registered 12.21 lakh units and mopeds at 73,067 units.
Exports of vehicles from India also has gone up by 23.84%. A total of 59,648 units of car/SUVs were exported growing at 3.45%. CV exports increased by 21% in May 2018 by exporting 8.055 units and two-wheeler exports stood at 2.84 lakh units at a massive growth of 23.49%.