No Festive Cheer For Carmakers In October
Domestic passenger vehicle sales rose 1.55 percent in October, snapping three consecutive months of declines.
Passenger vehicle sales in October stood at 2.84 lakh units as against 2.79 lakh units in the year-ago month, according to the Society of Indian Automobile Manufacturers. In July, August and September passenger sales declined 2.71 percent, 2.46 percent and 5.61 percent, respectively.
The growth in the passenger vehicle segment in October is reflective of the overall trend in the automobile industry, said Vishnu Mathur, the director general of SIAM. However, muted consumer sentiment affected festive season demand.
The real impact of festive sales will be known only next month as Diwali was in November this year. However, till the end of October, sales have been slow and it wasn’t like festive season.Vishnu Mathur, Director General, SIAM
Here's the break-up of October sales provided by SIAM:
- Car sales grew 0.38 percent to just over 1.85 lakh units last month.
- Motorcycle sales grew 20.1 percent to 13.3 lakh units.
- Total two-wheeler sales rose 17.2 percent to 20.5 lakh units.
- Commercial vehicle sales jumped 24.8 percent to over 87,000 units.
Vehicle sales across all categories registered a growth of 15.3 percent to 24.9 lakh, according to SIAM.