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Indian automobile industry: Overall growth in April-May 2017, commercial vehicles sale slows down

Indian automobile industry: Overall growth in April-May 2017, commercial vehicles sale slows down

India Blooms News Service | | 09 Jun 2017, 05:48 pm
New Delhi, Jun 9 (IBNS): India's automobile industry saw overall growth in the April-May 2017 period compared to the same time last year, announced the Society of Indian Automobile Manufacturers (SIAM), on Friday.

The Society of Indian Automobile Manufacturers (SIAM) is the apex industry body representing leading vehicle and vehicular engine manufacturers in India.

The data was presented by Vishnu Mathur DG, SIAM, along with Sugato Sen Deputy Director General, SIAM India.

According to SIAM, the industry produced a total 4,675,407 vehicles including passenger vehicles, commercial vehicles, three wheelers, two wheelers and quadricycle in April-May 2017 as against 4,313,445 in April- May 2016, registering a growth of 8.39 per cent over the same period last year.

In the domestic market, the sale of Passenger Vehicles grew by 11.73 per cent in April-May 2017 over the same period last year.

Within the Passenger Vehicles, Passenger Cars, Utility Vehicle and Vans grew by 11.15 per cent, 16.19 per cent and 0.37 per cent respectively in April-May 2017 over the same period last year.

The overall Commercial Vehicles segment declined by (-) 14.40 per cent in April-May 2017 compared to the same period last year.

Medium & Heavy Commercial Vehicles (M&HCVs) declined by (-) 43.63 per cent, while Light Commercial Vehicles grew by 8.28 per cent in April-May 2017 over the same period last year.

Three Wheelers sales declined by (-) 24.84 per cent in April-May 2017 over the same period last year.

Within the Three Wheelers, Passenger Carrier sales registered a de-growth of (-) 31.69 per cent, while Goods Carrier grew by 7.15 per cent in April-May 2017 over April-May 2016.

Two Wheelers sales registered a growth at 9.58 per cent in April-May 2017 over April-May 2016.

Within the Two Wheelers segment, Scooters and Motorcycles grew by 24.67 per cent and 4.04 per cent ,respectively, while Mopeds declined by (-) 10.01 per cent in April-May 2017 over April-May 2016.

In April-May 2017, overall automobile exports grew by 19.29 per cent.

While Passenger Vehicles, Three Wheelers and Two Wheelers registered a growth of 19.24 per cent, 35.76 per cent and 19.98 per cent, respectively, while Commercial Vehicle exports declined by (-) 33.27 per cent in April-May 2017 over the same period last year.

Usually, the sale of automobiles is taken to be an indicator of the health of the country's economy.


Image: SIAM India Twitter