NEW DELHI: Domestic sales of passenger cars rose by 4.49 per cent in November, as compared to the same period in 2016, industry data showed on Monday.

 

According to the Society of Indian Automobile Manufacturers (SIAM), 181,395 units of passenger cars were sold during the month under review, up from 173,607 units in November 2016.

 

Besides passenger cars sales, the off-take of other sub-segments of passenger vehicle category such as utility vehicles edged-higher by 44.65 per cent during the month to 77,824 units while sales of vans rose by 19.34 per cent to 16,189 units. Consequently, the overall domestic passenger vehicle sales increased by 14.29 per cent in November 2017 to 275,417 units from 240,983 units sold during the corresponding period of 2016.

 

Meanwhile the Tata Motors on Monday said it will increase prices of its entire passenger vehicle range by up to Rs 25,000, starting from January, due to rising input costs.

 

“We are optimistic on maintaining our growth trajectory in the coming year on the back of our robust product portfolio like TIAGO, HEXA, TIGOR and the recently launched NEXON,” he said.

 

 

The statement said the introductory prices of the recently launched lifestyle compact SUV, NEXON, which comes with Level NEX design, performance and technology features, will be ending by December 31. This entire range will also witness a price hike by up to Rs 25,000.

 

Meanwhile the India’s retail inflation likely breached the central bank’s 4.0 per cent medium-term target in November after unseasonably heavy rains sent food prices soaring, a Reuters poll showed.

 

In the poll of more than 30 economists, annual consumer inflation, due to be released on Dec. 12 at 1200 GMT, was seen surging to a 13-month high of 4.20 per cent in November from October’s 3.58 per cent.

 

The higher inflation rate is unlikely to push the Reserve Bank of India (RBI) to change its key rate any time soon, economists in the poll said.

 

November’s heavy rains “created lots of damage” for perishable fruit and vegetable crops, said Rupa Rege Nitsure, group chief economist at Larsen & Toubro. “We have seen that translated into price rises for onions, tomatoes and other perishable commodities”.

 

Increased house rent allowances for government employees and rising crude oil prices added to inflationary pressures alongside higher raw material costs due to the Goods and Services Tax (GST) rollout, she said. Wholesale pricesare expected to have risen 3.78 per cent last month from a year earlier, compared to a 3.59 per cent rise in October.

 

Agencies