With excise duty cuts providing some succour, auto sales in May rose 13.2% to 16.98 lakh units, says SIAM
Domestic passenger car sales grew 3.08% to 1.49 lakh units in May compared with 1.44 lakh units in same month last year.
According to the data released by the Society of Indian Automobile Manufacturers (SIAM), except for passenger carriers in medium and heavy commercial vehicles (M&HCVs) and good carriers in light commercial vehicles (LCVs) categories, all other segments witnessed growth during May 2014.
"With excise duty cuts providing some succour to auto industry, there are early signs of improvement in HCV sales. Even passenger vehicle sales are up for the first time in more than 15 months," SIAM said in a statement.
According to the industry body, total sale of vehicles across categories registered a growth of 13.22% to 16.98 lakh units in May compared with 15 lakh units in May 2013.
Two-wheeler registered 16.3% higher sales to 14.03 lakh units from 12.06 lakh units same period previous year. Scooter sale continued to lead the industry in May with a jump of 34.5% in sales to 3.58 lakh units from 2.66 units, while motorcycle sales grew 11.71% to 9.84 lakh units from 8.81 lakh units, same month last year.
Total sales of commercial vehicles were down 15.28% to 46,986 units from 55,458 units in May 2013, SIAM said.
Here are the details on vehicle production, sales and export in May...
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
Fiercely independent and pro-consumer information on personal finance.
1-year online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
30-day online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
Complete access to Moneylife archives since inception ( till the date of your subscription )
