Economy

Passenger vehicles down marginally in Oct: SIAM

As per the data released on Friday, sales of passenger vehicles, which includes cars, utility vehicles and vans, declined to more than 2.79 lakh units last month from more than 2.80 lakh a year ago, the first decline in four months.

Domestic passenger vehiclesales in the country dipped marginally by 0.3% in October on account of inventory correction by vehicle makers, industry body SIAM has said.

Within the passenger vehicles, the biggest contributor, cars, clocked a decline of 5.32 per cent to 184,666 units.

Consequently, the overall domestic passenger vehicle sales slipped by 0.30 per cent in October 2017 to 279,837 units from 280,677 units sold during the corresponding period in 2016. Most auto makers, barring market leader Maruti Suzuki, reported a flat performance while some also declined.

"The decline is not necessarily a reflection of market sentiment".

In the passenger vehicle segment, Maruti Suzuki India posted a growth of 9.25 per cent at 1,35,413 units but that of Hyundai Motor India was down 0.86 per cent at 49,588 units. It is a temporary blip...

Sales of two wheelers, the largest automobile segment by volumes, declined by nearly three per cent to 1.75 million units in October.

Motorcycle sales last month declined by 3.5% to 11,04,498 units compared to 11,44,512 units in October 2016. This is the first decline since January this year. Honda Motorcycle and Scooter India (HMSI) also saw its sales dropping by 13.77 per cent to 1,44,431 units as against 1,67,496 units in October 2016. Country's largest two wheeler maker Hero MotoCorp registered a decline of nearly four per cent to 0.54 million units.



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