AUTO IND beats slowdown to post 9.44 per cent growth 

Rujuta Parekh
Monday, 11 September 2017

Positive growth
‘According to a report published by the Society of Indian Automobile Manufactures (SIAM), the industry has witnessed a positive growth in 2017.

Pune: The automotive industry in the country has registered a positive growth in the first half of this financial year despite a slowdown in the economy and several policy changes in the last few months, including the introduction of Goods and Services Tax (GST) and demonetisation.

According to a report published by the Society of Indian Automobile Manufactures (SIAM), the industry has witnessed a positive growth in 2017. “The industry produced over 1.19 crore vehicles including passenger vehicles, commercial vehicles, three-wheelers, two-wheelers and quadricycle in April-August 2017 as against the over 1.09 crore in April-August 2016, registering a growth of 9.44 per cent over the same period last year,” the report states. 

Speaking about domestic sales, SIAM representatives said that the sale of passenger vehicles grew by 8.67 per cent in April-August 2017 over the same period last year. “Within the passenger vehicles, passenger cars, utility vehicles and vans grew by 6.57 per cent, 15.97 per cent and 2.27 per cent, respectively, in April-August 2017 over the same period last year,” they said. 

While the overall commercial vehicles segment grew by 1.58 per cent in April-August 2017 as compared to the same period last year, medium and heavy commercial vehicles (M&HCVs) production declined by 13.60 per cent.

“However, light commercial vehicles (LCVs) grew by 12.37 per cent in April-August 2017 over the same period last year. The three-wheelers sales declined by 16.26 per cent in April-August 2017 over the same period last year. Within the three-wheelers, passenger carrier sales registered a drop of 20.55 per cent.

However, goods carriers grew by 3.51 per cent in April-August 
2017 over April-August 2016,” SIAM representatives said.

The representatives said two-wheeler sales registered a growth of 10.41 per cent this year as compared to the last year. “Within the two-wheeler segment, scooters and motorcycles grew by 18.27 per cent and 7.89 per cent respectively, while moped sales declined by 8.60 per cent in April-August 2017” they said.

In terms of exports in April-August 2017, overall automobile exports grew by 10.27 per cent. “While passenger vehicles, three-wheelers and two-wheelers registered a growth of 2.62 per cent, 17.27 per cent and 13.82 per cent, respectively. The export of commercial vehicles declined by 33.08 per cent in April-August 2017 over the same period last year,” they added.

The representatives said two-wheeler sales registered a growth of 10.41 per cent this year as compared to the last year. 
 

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