Indians buying 7 cars per minute, one more than we were buying last year: Passenger vehicle sales rise 7.77% in Feb 2018

Fueled by the Auto Expo and the new prospects that it had to offer, SIAM reports indicate that Domestic Passenger Vehicle sales have seen a rise in sales from 7.77 per cent, posting 2,75,329 unit sales in the 28 days of February, an almost additional 25 thousand units from last years Feb sales of 2,55,470.

By:Updated: Mar 12, 2018 12:28 PM

Despite, constant policy change, the burgeoning Indian automotive industry continues its strong path of growth in the second month of 2018. Fueled by the Auto Expo and the new prospects that it had to offer, SIAM reports indicate that Domestic Passenger Vehicle sales have seen a rise in sales from 7.77 per cent, posting 2,75,329 unit sales in the 28 days of February, an almost additional 25 thousand units from last years Feb sales of 2,55,470. Roughly this would mean that the Indian auto buyer bought almost 10,000 cars every day throughout the month of February. That’s 6 cars every minute! Or one more car every minute than we bought last year!

Domestic passenger vehicle sales rose 7.77 per cent to 2,75,329 units in February from 2,55,470 units in February 2017 Domestic car sales were up 3.7 per cent to 1,79,122 units as against 1,72,737 units in February 2017, according to data released by the Society of Indian Automobile Manufacturers (SIAM). Motorcycle sales last month rose 26.48 per cent to 10,53,230 units as against 8,32,695 units a year earlier. Total two-wheeler sales in February rose 23.77 per cent to 16,85,814 units compared with 13,62,043 units in the year-ago month.Sales of commercial vehicles were up 31.13 per cent to 87,777 units in February, SIAM said. Vehicle sales across categories registered a rise of 22.77 per cent to 21,11,383 units from 17,19,806 units in February 2017, it added.

Fast saturating cities has left the government scrambling to create infrastructure to accommodate for the exponentially growing vehicles on the road. Thus far the industry has stood the test of time despite scrappage policies, disruptive taxation, shaky policy reigning down fire and brimstone on the “Make in India” driven manufacturing centre. As it were, it seems as Maruti Suzuki Chairman RC Bhargava had prophicised at last year year end meet saying that the Vehicle industry will continue to grow even further despite all odds.

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