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Passenger vehicle sales down in India
September 12, 2018
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NEW DELHI: Sales of domestic passenger vehicles declined by 2.46 per cent in August 2018, data showed on Tuesday.

According to the data furnished by the Society of Indian Automobile Manufacturers (SIAM), sales of passenger vehicles — cars, utility vehicles and vans — slipped by 2.46 per cent to 2,87,186 units from 2,94,416 units sold in the corresponding period of last year.

The off-take of the sub-segment such as passenger cars dipped by 1.03 per cent during the month under review to 1,96,847 units.

Similarly, utility vehicles’ sales declined in August. The off-take was lower by 7.11 per cent during the month to 73,073 units.

However, sales of vans increased by 2.41 per cent to 17,266 units.

Total sales of passenger vehicles declined due to a decline in retail demand across states and the high base effect in the corresponding period when automakers pushed huge inventories after the implementation of the goods and services tax last year.

Passenger car sales declined by 1.03 per cent, year on year, to 196,847 units and the utility vehicle segment also registered a 7.1 per cent decline, year on year, in sales to 73,073 units.

SALES DECLINE

Total vehicle sales during the month increased by just 3.4 per cent, year on year, to 238,1931 units.  “Last year in the July to September period sales were very good as tax rates had come down after the introduction of the GST. Then in expectation of a rise in tax rates there was pre-buying as well in September last year. So I don’t think there will be enough growth in September as well due to the high base effect,” said Vishnu Mathur, director-general, Siam.

The two-wheeler segment also posted muted growth due to the high base effect and low retail demand before the festive season because of floods in Kerala and adverse policy changes in West Bengal.

Total sales increased by just 2.9 per cent, year on year, to 1,946,811 units as scooters sales declined marginally by 0.6 per cent to 669,416 units while wholesale volumes of motorcycles increase by just 6.1 per cent to 1,206,512 units.

“Two-wheeler sales have been impacted by the adverse policy changes in West Bengal, which has brought the sales down to just 38,000 units this month from 90,000 units average every month. Sales in Kerala were down as well due to floods. Hence the muted growth in the segment, but it will pick up from the next month, at least in West Bengal,” added Mathur.

Motorcycle sales have been growing at a healthy pace on two consecutive years of near normal monsoon.

This year, too, motorcycle sales have been projected as doing well.

Commercial vehicle sales though continued to grow in the double digits as wholesale volumes during the month increased by 29.5 per cent, year on year, to 84,668 units. On the back of the Centre’s continued focus on building road infrastructure and improving rural incomes, sales of medium and heavy commercial vehicles increased by 28.5 per cent, year on year, to 34,072 units while light commercial vehicle sales increased by 30.2 per cent to 50,596 units.

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