Some positive news from the auto sector.
Passenger vehicle sales in India grew by 11.32% in September, riding on good growth in utility vehicles segment and festive season purchases.
According to data released by the Society of Indian Automobile Manufacturers (SIAM) today, domestic passenger vehicle sales were at 3,09,955 units in September, as against 2,78,428 in the same month last year. "Automobile industry at the moment is looking at improvement in all segments from last year," SIAM President Abhay Firodia told reporters here. Overall vehicle sales across categories registered 10% growth to 24,90,034 units, from 22,63,620 in September 2016.
Although the auto industry has faced difficulties in the wake of demonetization, transition from BS-III to BS-IV norms and uncertainty of GST implementation, it has recovered from those tough times, Firodia said.
"Now it is on the mending path. We hope that this momentum will be maintained," he said. Car sales last month went up by 6.86% to 2,08,656 units as against 1,95,259 units in September last year, while utility vehicle sales were up 26.21% to 84,374 units as against 66,851 units.
The increase in PV sales in September was driven by festive season purchases, with SUV models like Maruti Suzuki's Brezza, Hyundai Creta, Mahindra Scorpio, Ford Ecosport and Honda W-RV witnessing good traction, said SIAM officials. Market leader Maruti Suzuki India's PV sales were up 9.65% at 1,50,521 units last moth, while that of rival Hyundai Motors India was at 50,028 units, up 17.42%.
Mahindra & Mahindra saw its PV sales grow by 23.32% to 25,327 units while homegrown competitor Tata Motors clocked 19,334 units, up 18.24% from September 2016. As per SIAM data, two-wheeler sales in September grew 9.05% to 20,41,024 units compared to 18,71,621 in the year-ago month. Motorcycle sales last month were up 6.98% to 12,69,612 units compared to 11,86,759 units in September 2016.
Market leader Hero MotoCorp posted bike sales of 6,14,949 units last month, up 7.77% from the same month last year. Baja Auto's motorcycle sales during the month were at 2,47,418 units, up 7.34% from September last year.
Honda Motorcycle and Scooter India (HMSI) saw its motorcycle sales drop marginally to 1,83,366 units from 1,83,785 units in September 2016. "Pick up in motorcycle sales is an indication of rebound in the rural market on the back of good monsoon," SIAM Deputy Director General Sugato Sen said. In the scooters segment, total sales in September this year were at 6,86,478 units as against 6,06,457 units a year ago, up 13.19%.
Market leader HSMI posted a growth of 8.65% in scooter sales last month at 3,86,456 units. Chennai-based TVS Motor Co clocked 1,18,174 units, a jump of 50.47% from the year-ago month.
Hero MotoCorp's scooter sales were at 88,524 units, up 5.4%. Sales of commercial vehicles rose by 25.27% to 77,195 units in September, SIAM said. This was the highest growth rate achieved since November 2011 when CV sales had grown by 34.17%.
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