Passenger cars sales up 4% in November

New Delhi, Dec 11 (IANS) Domestic sales of passenger cars rose by 4.49 per cent in November, as compared to the same period in 2016, industry data showed on Monday.

According to the Society of Indian Automobile Manufacturers (SIAM), 181,395 units of passenger cars were sold during the month under review, up from 173,607 units in November 2016.

Besides passenger cars sales, the off-take of other sub-segments of passenger vehicle category such as utility vehicles edged higher by 44.65 per cent during the month to 77,824 units while sales of vans rose by 19.34 per cent to 16,189 units.

Consequently, the overall domestic passenger vehicle sales increased by 14.29 per cent in November 2017 to 275,417 units from 240,983 units sold during the corresponding period of 2016.

Similarly, the industry data revealed that sales of overall commercial vehicles zoomed by 50.43 per cent to 68,846 units in November. The segment is a key indicator of economic activity.

Another major segment -- three-wheelers -- sales accelerated by 78.63 per cent to 60,131 units during the month.

In addition, overall sales of two-wheelers, which include scooters, motorcycles and mopeds climbed up by 23.49 per cent to 1,535,277 units.

The industry data disclosed that the Indian automobile sector reported an increase of 24.05 per cent during November 2017 -- with total sales at 1,939,671 units across segments and categories.

Moreover, the overall exports across categories edged higher by 23.25 per cent to 351,847 units which were shipped out during last month.

According to Sridhar V, Partner, Grant Thornton India LLP, the performance of the OEM's (original equipment manufacturer's) across categories came on the back of a low base.

"While one can see some ups and downs in the current year the story is that the growth is perceivable and venturing into a stabilising environment amidst the rumble and tumble of various policy measures faced during the year," Sridhar V said.

"Movement towards mid-size feature filled sedans and premium two wheelers apart from growth in scooter segment is visible and is a reflection of the customer transitioning and contribution from rural growth. Commercial vehicles sales shows a stabilising trend."