​​​
  1. SIAM lifts sales projections for FY18

SIAM lifts sales projections for FY18

With passenger vehicle sales crossing the 3-million mark in calendar 2017 on robust demand for utility vehicles, which is a five-year high, SIAM on Thursday revised its projections for fiscal 2018 across segments.

By: | Mumbai | Published: January 12, 2018 5:30 AM
SIAM,  projections, FY18, private vehicles In December, PV sales rose 5.22% to 2,39,712 units. (Reuters)

With passenger vehicle (PV) sales crossing the 3-million mark in calendar 2017 on robust demand for utility vehicles, which is a five-year high, SIAM on Thursday revised its projections for fiscal 2018 across segments. PV sales, which were earlier projected to grow 7-9% during the fiscal, are now expected to grow at the higher end of 9%, the industry body said. Similarly, for commercial vehicles (CVs), growth has been revised upwards to 13% from an earlier estimate of 4-6%, while for two-wheelers it has been pegged at 12% against a previous forecast of 9-11%.

In terms of growth rate, PV sales in CY2017 was the fastest since 2012 when it rose 9.77%. Vehicle sales across categories, including CVs and two-wheelers, grew 8.39% to 2,37,39,780 units in 2017 compared with 2,19,01,703 units in 2016.

In December, PV sales rose 5.22% to 2,39,712 units. Domestic car sales, however, declined a tad to 1,58,326 units against 1,58,617 units in December 2016.

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.

  1. No Comments.

Go to Top