Passenger vehicle sales in India rose by 14.29 per cent in November mainly due to a low base during the same month last year on account of demonetisation. However, robust sales of utility vehicles and discounts have also helped sales of passenger vehicles (PVs) grow last month to 2,75,417 units as against 2,40,983 units in November last year, according the Society of Indian Automobile Manufacturers (SIAM).
“We had demonetisation last November. So, we have grown on a pretty low base of the same period last year. Also, heavy discounting plays a role during this period,” SIAM Director General Vishnu Mathur told reporters here.
Car sales rose 4.49 per cent to 1,81,395 units as against 1,73,607 units in November last year. Interestingly, in terms of production, the segment showed zero per cent growth from November last year. Vehicle sales across categories registered a rise of 24.05 per cent to 19,39,671 units from 15,63,658 units in November 2016.
With the overall automobile sales, including PVs, commercial vehicles (CVs) and two-wheelers, recording a growth of 9.29 per cent during April-November period this fiscal, SIAM expects the overall industry growth to be around 8-10 per cent during the current fiscal. “If it happens (8-10 per cent growth), it would be the best growth over the last six financial years,” SIAM Deputy Director General Sugato Sen said.
The overall auto industry had grown by 6.81 per cent in 2016-17, 3.78 per cent in 2015-16, 7.06 per cent in 2014- 15, 3.54 per cent in 2013-14 and 2.49 per cent in 2012-13. In the PV segment, Maruti Suzuki India posted a growth of 14.32 per cent at 1,44,297 units, while rival Hyundai Motor India was up 9.98 per cent at 44,008. Mahindra & Mahindra also posted an increase of 21.66 per cent at 15,990 units. Homegrown rival Tata Motors saw a growth of 38.14 per cent at 18,832 units in November this year.