Indian PV domestic sales up 9.96% in March 2017; likely to grow between 7-9% in FY18

Indian automobile industry has witnessed 1.33 percent growth in its domestic sales for the month of March 2017 and stood at 1,880,352 units, according to data released by SIAM. The passenger vehicle segment sold 282,519 units as against 256,920 units during March 2016, thereby registering growth of 9.96 percent. In this segment, while passenger cars grew by 8.17 percent, sales of utility vehicles jumped 20.91 percent. Passenger cars sold 190,065 units, and utility vehicles’ sales touched 77,689 units during March 2017. Vans witnessed 12.94 percent de-growth at 14,765 units when compared with 16,960 units during March 2016. The commercial vehicle segment grew by 9.26 percent at 87,257 units. Medium & heavy commercial vehicles grew by 5.97 percent, and light commercial vehicles went up by 12.11 percent. In the domestic market, they sold 39,353 units and 47,904 units, respectively. The two wheelers segment registered marginal growth of 0.26 percent, at 1,471,576 units. In this segment, only scooters’ sales witnessed positive growth of 8.13 percent at 486,604 units. Motorcycles and mopeds sales went down by 3.33 percent and 1.61 percent at 915,199 units and 69,773 units, respectively.