GST brake; Auto sales in reverse gear in June in India

The Goods and Services Tax (GST) has put a brake on automobile sales in June. Owing to this the overall sales was down during the April-June quarter. The overall Commercial Vehicles segment declined by (-) 9.08 percent in April-June 2017 as compared to the same period last year. Medium and Heavy Commercial Vehicles sales declined by 31.82 percent, while Light Commercial Vehicles grew by 7.78 per cent in April-June 2017 over the same period last year, says the latest data from Society of Indian Automobile Manufactures (SIAM).

Three Wheelers sales declined by 24.75 per cent in April-June 2017 over the same period last year. Within the Three Wheelers, Passenger Carrier sales registered a de-growth of 30.82 percent, while Goods Carrier grew by 3.68 per cent in April-June 2017 over April- June 2016.

Two Wheelers sales registered a growth at 7.78 percent in April-June 2017 over April-June 2016. Within the Two Wheelers segment, Scooters and Motorcycles grew by 20.06 per cent and 3.44 per cent respectively, while Mopeds declined by 10.92 per cent in April-June 2017 over April-June 2016.

However, Passenger Vehicles sales grew by 4.38 per cent in April-June 2017 over the same
period last year. Within the Passenger Vehicles, Passenger Cars and Utility Vehicle grew by 3.89 percent and 7.53 per cent respectively.

Production

The industry in India produced a total 6,914,544 vehicles including passenger vehicles, commercial
vehicles, three wheelers, two wheelers and quadricycle in April-June 2017 as against 6,431,938 in April- June 2016, registering a growth of 7.50 per cent over the same period last year.

Exports

In April-June 2017, overall automobile exports grew by 13.74 per cent. While Passenger Vehicles, Three Wheelers and Two Wheelers registered a growth of 13.79 per cent, 24.67 per cent and 14.75 percent respectively, Commercial Vehicle exports declined by 34.02 per cent in April-June 2017 over the same period last year.

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