Passenger vehicle market (which includes cars and utility vehicles) during the financial year 2004-05 crossed the coveted one million mark. Total passenger vehicles sales during 2004-05 was 1,061,290 units against 902,096 units in 2003-04, recording a growth of 18 per cent.
According to a report from the Society of Indian Automobile Manufacturers (Siam), the passenger car market reported a 18 per cent jump in domestic sales to 819,918 units in 2004-05.
Utility vehicle sales in the period saw a growth of 20.4 per cent to 176,339 units against 146,388 units in 2003-04 while multi-purpose vehicles saw a growth of 9.2 per cent on sale of 65,033 units, according to Siam.
The two-wheeler sales in the domestic market, predominantly motorcycles, grew 15.7 per cent in FY05 at 6,208,860 units against 5,364,249 units sold in FY04. Motorcycle sales were up 19 per cent to 4,964,442 units against 4,170,445 units while scooter/ scooterette sales were higher by 4.2 per cent to 9,23,566 units.
Commercial vehicles sales in the domestic market grew 22 per cent in the fiscal ended March 31, 2005 to 318,438 units against 260,114 units in 2003-04.
Sales of medium and heavy commercial vehicles grew 23 per cent to 198,561 units against 161,395 units while light commercial vehicles sales moved up by 21.4 per cent to 119,877 units against 98,719 units.
Overall buoyancy in the economy, coupled with easy funding options, helped most car manufacturers report good sales. While industry leader Maruti Udyog’s sales moved up 16.5 per cent to 417,179 units, Tata Motors, the number two carmaker, saw sales moving up an impressive 33.9 per cent to 144,827 units (108,138).
Hyundai Motor India, which is largest passenger car exporter from India, recorded domestic sales at 141,830 units against 129,472 units in 2003-04.
In the motorcycle segment, market leader Hero Honda and second largest player Bajaj Auto reported sales with a 19 per cent growth in 2004-05 to 49,64,442 units against 41,70,445 units in the previous fiscal.
Commercial vehicle market leader Tata Motors and Ashok Leyland reported sales growth of 22 per cent in 2004-05 to 318,438 units against 260,114 units in the previous financial year. The growth was evenly spread between medium and heavy commercial vehicle (M&HCV) and light commercial vehicle (LCV) categories with a growth of over 20 per cent.