Companies & Sectors
Passenger car sales up nearly 10 percent in 2015: SIAM
New Delhi : Low interest and fuel costs coupled with robust urban demand and new launches accelerated domestic passenger car sales last year by 9.80 percent, industry data showed on Monday.
 
According to the data furnished by the Society of Indian Automobile Manufacturers (SIAM), passenger car sales during the previous year stood at 2,034,015 units.
 
The industry data showed that the total passenger vehicle sales, which include cars, utility vehicles and vans, went up by 7.86 percent to 2,772,745 units during the year under review.
 
Further, the data disclosed a 7.64 percent sales growth in the overall commercial vehicles segment, which is a key indicator of economic activity. 
 
The commercial vehicles segment off-take for the year ended December 31, 2015, stood at 652,591 units.
 
However, three-wheelers' sales declined by 3.29 percent to 514,058 units last year.
 
Overall two-wheelers' segment sales which includes off-take for scooters, motorcycles and mopeds were flat.
 
The two-wheeler segment's sales inched up by 0.86 percent to 16,122,322 units.
 
Product-wise, scooter sales during the year under review grew by 12.94 percent at 4,880,117 units. 
 
Motorcycle sub-segment sales, however, dropped by 3.42 percent at 10,523,909 units.
 
In addition, moped off-take declined by 6.38 percent at 718,296 units during the period under review.
 
Besides, overall exports across categories were flat during the year under review. 
 
It reported a miniscule growth of 0.57 percent to 3,610,999 units which were shipped out during 2015.
 
Total automobile sales last year were higher by 1.87 percent at 20,061,716 units from 19,693,418 units sold in 2014.
 
For last month, SIAM data revealed a growth of 12.87 percent in the domestic passenger car sales which stood at 172,671 units.
 
"Looking at different segments and sub-segments, vehicle sales growth trend continues in December 2015," said Abdul Majeed, partner and auto expert with PriceWaterhouse.
 
"Growth is fuelled by positive urban customer sentiments, gradual uptick in the economy and hope that the economy will do much better in the coming quarters.”
 
The data further showed that the total passenger vehicle sales went up by 10.46 percent to 230,960 units during the month under review.
 
Sales of utility vehicles rose by 4.18 percent to 44,874 units. Vans' off-take inched-up by 2.99 percent to 13,415 units. 
 
Overall commercial vehicles segment sales during last month showed a growth of 11.45 percent to 56,840 units.
 
Three-wheelers' sales augmented by 17.45 percent in the month under review at 46,881 units.
 
On the other hand, overall two-wheelers segment's sales were lower by 3.10 percent to 1,167,633 units from 1,204,942 units sold in the like month of 2014.
 
On product specific basis, scooter sub-segment's sales in December edged up by 3.12 percent at 386,305 units. 
 
In contrast, motorcycle sales receded by 5.93 percent to 724,807 units.
 
Similarly, mopeds' sales declined in the month under review.
 
The sub-segment's off-take was down by 5.52 percent at 56,521 units during the month under review.
 
In addition, overall exports, too, declined during December.
 
The exports were lower by 7.48 percent at 311,021 units sold abroad from 336,178 units shipped out during December 2014.
 
Total automobile sales were flat - down 0.17 percent to 1,502,314 units from 1,504,944 units sold during the corresponding month of 2014.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

 

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National Herald case: Court allows Dr Swamy's plea for documents
New Delhi : A court here on Monday allowed the plea of Bhartiya Janata Party leader Subramanian Swamy seeking some documents to support his National Herald case against Congress president Sonia Gandhi and vice president Rahul Gandhi.
 
Metropolitan magistrate Lovleen allowed the plea of Swamy seeking some documents from various ministries and other agencies.
 
In his application, Swamy has sought documents in regard to the company, the Associated Journals Limited, Herald House from ministries of finance, urban development, and corporate affairs, the Delhi Development Authority and the registrar of companies.
 
He told the court that these documents are necessary for the purpose of the trial and other proceedings.
 
The court last month granted bail to Gandhis after they appeared before it.
 
On June 26, 2014, the trial court issued summons to the Congress leaders on Swamy's complaint about "cheating" in the acquisition of Associated Journals Ltd., which published the National Herald newspaper, by Young India Ltd., "a firm in which Sonia and Rahul Gandhi each own a 38 percent stake".
 
Congress leaders Motilal Vora, and Oscar Fernandes, family friend Suman Dubey and technocrat Sam Pitroda were also named as accused in the case.
 
The Delhi High Court last month dismissed the plea of the Gandhis to quash the summons issued to them by the trial court on Swamy's complaint.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

Suketu Shah

1 year ago

Thus case by Dr Swamy wl turn India on its head in a positive way,not anything else.Jai Hind.

India bets on technology to overcome challenges
Bengaluru : Racing against time to realise the 'Vision 2020' former president A.P.J. Abdul Kalam conceived in 1996, India has embarked on a similar exercise for 2035, betting on emerging technologies to overcome major challenges it faces in ensuring inclusive growth and improving quality of life in the country.
 
"Technology is a key driver to empower individuals, societies and countries, facilitate development and enhance capabilities, while taking advantage of the democratic dividend," says an official document on 'Technology Vision 2035'.
 
The 100-page document, released by Prime Minister Narendra Modi at the 103rd Indian Science Congress last week in Mysuru, about 140 km from here, attempts to envision the country's technology future, using as analogy of four gaits of a horse - galloping, cantering, trotting and walking India.
 
The document articulates a vision for all Indians in 2035 and how technology will bring it to fruition, keeping in view basic needs of security, prosperity and identity of the population, projected to be 153 crore from 120 crore in 2012.
 
"No other country will be able to match India in terms of diversity, which is its core strength. Besides diversity in culture, the country is blessed with socio-economic, demographic, topographical and agro-climatic diversities," the report by the Technology information, forecasting and assessment council (Tifac) asserted.
 
As an autonomous body, Tifac is a think tank under the science and technology department of the central government. It identified 10 major challenges requiring attention, resources and solutions in the next two decades for the benefit of people.
 
The key challenges are development, empowerment, inclusiveness, sustainability, environment, education, health, urban infrastructure, resources, socio-economic policies, solutions, electronic communication and quality research.
 
The council, under the chairmanship of top nuclear scientist-cum-technocrat Anil Kakodkar, identified 12 sectors to realise the grand vision in the next 20 years, spanning education, medical sciences and healthcare, food and agriculture, water, energy, environment, habitat, transportation, infrastructure, manufacturing, materials and information and communication technology (ICT).
 
"The vision 2020 was envisaged in the backdrop of liberal reforms since the early 1990s, when the country was emerging from economic bankruptcy. It, however, provided directions for national initiatives in science and technology to make India a developed country by 2020 through affirmative action in 16 sectors across the spectrum," Tifac executive director Prabhat Rajan noted in the report.
 
Admitting that the 'Technology Vision 2020' was a prisoner to the imagination of its own times, Rajan said the document was from the viewpoint of 1996 while that of 2035 was from the standpoint of 2014.
 
"Post-independent India has never been more different in any two decades than between 1996 and 2014, as the country's GDP (gross domestic product) multiplied six times. If the 1996 document was an aspiration of a developed India in 2020, this speaks to the realisation of a developed India by 2035," Rajan asserted.
 
Though the country galloped in some areas and cantered to keep pace in others, it trotted in a few but could not walk the talk in many areas in time for various reasons, internal and external.
 
"While technological advancements in other countries and embargoes have helped or impeded our growth, our prowess has made us confident gainers in some sectors. Lack of indigenous technologies in other sectors has left us behind," Rajan noted.
 
For instance, the country galloped in the services sector, led by IT, but not so in the manufacturing sector, where the country's expertise remained at the basic or intermediate level of technology due to lack of adoption in design and execution.
 
In the past two decades, India galloped in space, nuclear and missile technologies, life sciences and biotechnology, cantered in civil aviation, services and road transportation but trotted in food and agriculture, manufacturing and electronics.
 
"On the flip side, in healthcare, life span increased by 10 years to 65 years from 1988 to 2013, while infant mortality declined to 41 per 1,000 from 94 per 1,000 in the same period (25 years) and maternal mortality slumped to 190 per 100,000 births in 2013 from a high of 560 in 1990," the document pointed out.
 
Flagging of the five-day science event on January 3, Modi told about 12,500 stakeholders that the biggest challenge would be pressure on resources as they were limited and non-renewable like fossil fuels.
 
"I am confident that emerging technologies like nano, bio, robotics, sensors, artificial intelligence and cognitive sciences hold the potential to provide solutions to the challenge of limited resources," Modi said on the occasion.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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