Domestic PV sales fall first time in 9 months in July

By: | Published: August 11, 2018 4:17 AM

Domestic sales of passenger vehicles declined for the first time in nine months in July, on account of a high base last year when sales had spiked due to the GST roll-out.

Domestic PV, Domestic PV sales, passenger vehicles, passenger vehicle sale, Society of Indian Automobile Manufacturers, companyDomestic car sales also declined marginally to 1,91,979 units compared with 1,92,845 in July 2017. (Reuters)

Domestic sales of passenger vehicles declined for the first time in nine months in July, on account of a high base last year when sales had spiked due to the GST roll-out. According to data released by the Society of Indian Automobile Manufacturers (SIAM), PV sales declined to 2,90,960 units in July from 2,99,066 units in July last year. Domestic car sales also declined marginally to 1,91,979 units compared with 1,92,845 in July 2017. “Last year in July, PV sales had shot up due to GST roll-out. So, despite this drop in sales last month, we are satisfied with the situation as we believe that all the industry segments are on a growth path,” SIAM deputy director general Sugato Sen said.

PV sales had last dropped marginally in October last year. “After a few years of downturn, all segments of the industry are now showing growth and we expect it to continue over the next two years,” Sen said. The high sales base in August and September last year is also expected to reflect negative growth this year in these two months, he added. In July, market leader Maruti Suzuki reported a marginal decline in its domestic PV sales at 1,52,427 units. Rival Hyundai Motor India saw a growth of 1.1% at 43,481 units. Honda Cars India, which moved on to the third position, registered a growth of 16.89% at 19,970 units.

Mahindra & Mahindra registered a decline of 5.83% at 19,739 units, while Tata Motors saw its PV sales jump 15.58% to 19,410 units. According to SIAM, total two-wheeler sales in July rose 8.17% to 18,17,077 units compared with 16,79,876 units in the year-ago month. Motorcycle sales rose 9.67% to 11,50,995 units, against 10,49,478 units a year earlier. Market leader Hero MotoCorp posted a rise of 12.18% in its domestic motorcycle sales at 6,10,197 units as against 5,43,938 units in the year-ago month. Rival Honda Motorcycle and Scooter India (HMSI) sold 1,62,987 units compared with 1,68,075 units in the same month last year, a decline of 3.02%.

Bajaj Auto’s motorcycle sales stood at 2,01,433 units compared with 1,64,915 units in July 2017, up 22.14%. Scooter sales witnessed a rise of 5.12% to 5,98,976 units, compared with 5,69,809 units in July last year. Market leader HMSI saw its domestic sales rise marginally to 3,45,602 units against 3,43,885 units in the year-ago month. TVS Motors sold 1,12,238 units compared with 89,646 units in July last year, up 25.2%. Hero MotoCorp’s scooter sales stood at 53,086 units compared with 67,369 units in the year-ago month, down 21.2%. Sales of commercial vehicles were up 29.65% to 76,497 units in July, SIAM said. Vehicle sales across categories registered a rise of 7.97% to 22,44,875 units from 20,79,204 units in July 2017, it added.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition