Passenger Car Sales Rise 8% In February, Commercial Vehicles Outperform
Commercial Vehicles sales jumped 31%, while two-wheeler sales rose 24%.
Auto sales grew in February aided by strong rural demand, new product launches and low base effect from last year when demonetisation disrupted businesses.
Domestic passenger vehicle sales, which include sport utility vehicles and vans, rose 7.7 percent to 2.75 lakh units last month, according to Society of Indian Automobile Manufacturers. Local car sales grew 3.7 percent to 1.79 lakh units.
The out-performance of commercial vehicle and two-wheeler makers continued. Sales of trucks and buses jumped 31.1 percent to 87,777 units in February. Medium and heavy commercial vehicles sales rose 23 percent to 37,552 units, while light commercial vehicles sales increased 37.9 percent to 50,225 units.
Two-wheeler sales rose 23.8 percent to 16.85 lakh units, whereas three-wheeler sales surged 76.6 percent to 62,463 units.
Exports
Total vehicle exports rose 26 percent 3.58 lakh units, with numbers rising for all segments barring passenger vehicles. Exports of passenger vehicles declined 1 percent to 60,478 units.
“Exports remain a matter of concern as the impact of the Goods and Services Tax remains,” said Vishnu Mathur, director general of SIAM. Automobile companies are not receiving GST refunds, he added.
Three-wheeler exports rose 83.31 percent in February, while two-wheeler exports improved 29.87 percent.
Also Read: Low Base Helps Auto Sales Rise In February
