By APA News Bureau:
Most of the automobile industry segments, except passenger vehicles (7.89 percent), reported double-digit growth in domestic sales in 2017-18, according to the recently released report by the Society of Indian Automobile Manufacturers (SIAM). Sales of passenger and commercial vehicles, two and three-wheelers hit a new record in the past financial year. This growth trend is expected to continue in 2018-19 also.
Sales In March
The Indian auto wholesales grew by 18.2 percent at 2,223,517 units in March compared to 1,880,592 units dispatched from factories across segments last year during the same month. The high growth rate was mainly on account of the growth in commercial vehicles, and three- and two-wheelers.
Passenger vehicle (PV) wholesales also grew by 6.38 percent at 300,722 units as against 282,698 units in the same period a year ago. Utility vehicles (UV) wholesale surged 17.74 percent to 91,483 units in March compared to 77,697 units sent out of factories in the same month last year.
Passenger car wholesales grew marginally by 0.44 percent to 191,082 units in March compared to 190,236 units in the same month the previous year. Van dispatches grew by 22.97 percent at 18,157 units in March 2018 compared to 14,765 units dispatched in the same month a year ago, the highest in the segment.
The overall commercial vehicle segment grew by 24.55 percent with 108,681 units sold in March 2018 compared to 87,258 units in the same month last year with light commercial vehicles (LCVs) growing at 31.35 percent at 62,921 units this year as against 47,905 units last year.
In the LCV category, goods carriers grew by 34.79 percent in March at 54,756 units compared to 40,623 units last year. The passenger carriers in this segment grew by 12.13 percent at 8,165 units as opposed to 7,282 units in March last year.
In the medium and heavy commercial vehicle (M&HCV) category, goods carriers grew by 23.73 percent with 40,910 units being dispatched compared to 33,065 units last year in March. Passenger carriers in this segment witnessed de-growth of 22.87 percent dispatching only 4,850 units as opposed to 6,288 units last year in the same duration. The overall M&HCV grew by 16.28 percent at 45,760 units compared to 39,353 units last year. Three-wheelers exhibited the maximum growth in March 2018 dispatching 72,465 units compared to 39,000 units last year. This is a growth of 85.81 percent over last year. Passenger carriers fuelled the growth by dispatching 59,723 units this year compared to 28,110 last year, a growth of 112.46 percent. Goods carriers also witnessed a healthy growth of 17.01 percent dispatching 12,742units in March 2018 compared to 10,890 units in the previous year.
In the two-wheeler segment, motorcycles grew the fastest by 25.13 percent selling 1,145,221 units in the said month as against 915,259 units in the same months last year. For scooters, the dispatch during the month stood at 518,015 units as against 486,604 units last year, an increase of 6.46 percent. Mopeds grew by 12.38 percent dispatching 78,413 units this month as against 69,773 units during the same month last year.
Domestic Sales In FY 18
The sale of passenger vehicles (PV) grew by 7.89 percent in April-March 2018 over the same period last year. Within the passenger vehicles, passenger cars, utility vehicles and vans grew by 3.33 percent, 20.97 percent and 5.78 percent respectively in April-March 2018 over the same period last year.
The overall commercial vehicle segment grew by 19.94 percent in April-March 2018 as compared to the same period last year. M&HCVs grew by 12.48 percent and LCVs grew by 25.42 percent in April-March 2018 over the same period last year. Three-wheelers sales grew by 24.19 percent in April-March 2018 over the same period last year. Within the three-wheelers, passenger carrier and goods carrier sales registered a growth of 28.65 percent and 7.83 percent, respectively, in April-March 2018 over April-March 2017.
Two-wheeler sales registered a growth at 14.80 percent in April-March 2018 over April-March 2017. Within the two-wheeler segment, scooters and motorcycles grew by 19.90 percent and 13.69 percent respectively, while mopeds declined by 3.48 percent in April-March 2018 over April-March 2017.
In April-March 2018, overall automobile exports increased by 16.12 percent. Two and three-wheeler segments registered a growth of 20.29 percent and 40.13 percent, respectively, while passenger vehicles and commercial vehicles declined by 1.51 percent and 10.53 percent, respectively, in April-March 2018 over the same period last year.
The industry produced a total 29,075,605 vehicles including passenger vehicles, commercial vehicles, three-wheelers, two-wheelers and quadricycle in April-March 2018 as against 25,330,967 in April-March 2017, registering a growth of 14.78 percent over the same period last year.
Outlook For FY19
With GST teething problems settling down and the rural growth story continuing in FY 19 the sales for passenger vehicles is expected to witness high single digit growth. In the two-wheeler segment, scooter sales is expected to rise sharply while motorcycles are expected to grow moderately.
While bus sales are expected to grow in this fiscal year, the intercity segment is expected to bounce back. While, MHCV sales growth is expected to be at high single digits, the LCV demand is expected to grow in double digits. Three-wheeler sales are expected to grow at a low single digit rate.