Commercial vehicle sales continue to save India's lagging automobile sector

Commercial vehicles sales continue to lead the recovery in India's automobile sector with over 24% increase in domestic sales in the month of May. 

According to data provided by Society of Indian Automobile Manufacturers (SIAM), the commercial vehicles (CV) sales continued its upward surge from the month of April. Sales of passenger carriers in May shot up by nearly 30%, at 4259 units. At 16,356 units, goods carriers registered an increase of 23.09% in the given month. 

While three-wheelers in the only segment that posted a drop in sales of 11.57% in May, two-wheelers continued with its muted growth of 2.61%. 

Scooters and scooterettee saw sales of 3,64,073 units as against 3,54,808 units in the same month last year. 

Motorcyles saw a drop of 3.04% in sales at 9,53,322 units versus 9,83,210 units. 

Passenger cars continued to grow at a healthy pace and saw a sales jump of 7.73% on the back of new launches. 

Sales of utility vehicles and vans pulled passenger vehicles (PV) sales down with a drop of 2.27% and 5.06%, respectively. 

SIAM said that overall, india's automobile sector in the month of May contracted as production and sales fell 1.35% and 0.58%, respectively.