Sales of passenger vehicle grew 7.57% to more than 2.85 lakh units in the last month, from 2.65 lakh units in the year earlier period, as per data released by the Society of Indian Automobile Manufacturers (SIAM).
While sales of utility vehicles shot up by almost 38% to 85,850 units, those of cars declined by 1.25% to just over 1.84 lakh units during the month under review.
‘UVs to lead sales’
“The overall growth in the passenger vehicle sales in January is as per expectations and is also a reflection of the mood ahead of the Auto Expo,” SIAM director general Vishnu Mathur said, adding that utility vehicles continue to be a growth driver.
The sales in the car segment were largely flat as the entry-level segment is not witnessing many new launches with the customer preference shifting towards crossovers and compact SUVs, he reasoned.
“The UV sales in January this year was the second-highest in terms of volume, after the highest clocked in July last year at 86,874 units,” Mr. Mathur said.
As per the data, total two-wheeler sales in January rose 33.43% to more than 16.84 lakh units, compared with more than 12.62 lakh units in the year-earlier period.
While motorcycle sales grew 28.64% to over 10.54 lakh vehicles, scooter sales soared 48.29% to more than 5.53 lakh units. This reflected the strong demand for two wheelers in rural as well as urban markets, he said.
CV sales rise
Sales of commercial vehicles, which are seen as an indicator economic activity, rose by almost 40% to 85,660 units in January compared with 61,305 units in the corresponding period. Sales of medium and heavy commercial vehicles increased 18.77% to 34,170 units and those of light commercial vehicles rose by 58.26% to 51,490 units.
Vehicle sales across categories registered 30.71% growth to more than 21.17 lakh units, compared with 16.2 lakh units in January 2017.
