As per the latest data released by the Society of Indian Automobile Manufacturers (SIAM) for the second quarter of current fiscal year (July-September), the sales of passenger vehicles grew by 12.34 percent in April-September 2016 over the same period last year. Within the passenger vehicles, passenger cars, utility vehicles and vans grew by 5.11 percent, 40.24 percent and 8.12 percent respectively during April-September 2016 over the same period last year.
The overall commercial vehicles segment registered a growth of 5.99 percent in April-September 2016 as compared to the same period last year. Medium & Heavy Commercial Vehicles (M&HCVs) slipped 1.19 per cent and Light Commercial Vehicles grew by 11.69 percent during April-September 2016 over the same period last year.
In April-September 2016, overall automobile exports declined by 10.68 percent. While passenger vehicles and commercial vehicles exports registered a growth of 15.38 percent and 10.24 percent.
The month of September in particular witnessed a steep rise in the sales of passenger vehicles. As per the latest data, domestic sales at market leader Maruti Suzuki India Ltd jumped 29.4% to a record 1,37,321 units in September as sales in all vehicle categories rose. Even sales of entry-level models such as Wagon R and Alto, which were under pressure for months, rose at a brisk 24.8% to 44,395 units. Led by the Baleno hatchback, cumulative sales of compact cars also advanced 12.3% to 50,324 units over last year.
With the September sales, Maruti has widened its lead over rivals in the passenger vehicle market. Utility vehicle market leader Mahindra and Mahindra’s passenger vehicles sales increased 5% to 20,537 units over last year.
Sales at some other auto makers also jumped, albeit on a much lower base. The Tiago drove passenger vehicles sales at Tata Motors Ltd up by 24% to 14,601 units from a year ago. The Kwid continued to push volumes at Renault India, with the local arm of the French carmaker clocking a 590% jump in volumes to 12,300 units. Nissan Motor India and Volkswagen Passenger Cars, too saw sales advance 96.9% to 5,151 units and 22% to 3,929 units, respectively, over a year ago.
Aided by the Innova Krysta, sales at Toyota Kirloskar Motor also rose 6% to 12,067 units. Ford India’s despatches increased 9% to 9,018 units.
Honda Motor Co. and General Motors Corp. were the only firms that saw sales skid. Sales at Honda slipped to 15,034 units from 18,509 units a year ago while GM struggled with sales touching a low of 2,101 units from 2,478 units a year ago.
The LCV segment witnessed a strong sales growth of 11.6 percent in April-September 2016 at 1,95,767 units compared to 1,75,270 units sold in the same period a year ago. The passenger segment grew by 7.6 percent even as the goods carrier segment grew by 12.40 percent in the same comparative period.
The LCV sales is further expected to pick up owing to improving rural consumption demand and expected ease of financing while a slight advancement of sales is expected in Q4 of FY17.