Auto industry starts off 2016-17 on positive note

The automobile industry began fiscal 2016-17 on a positive note, with both production and sales of passenger vehicles growing significantly.

According to the Society for Indian Automobile Manufacturers (Siam), the industry produced a total of 2.12 million vehicles including passenger vehicles, commercial vehicles, three wheelers, two wheelers and quadricycles in April 2016 as against 1.91 million in the same month last year, registering a growth of 10.91.

The sales of Passenger Vehicles grew by 11.04 per cent in April 2016 over the same month last year. Within Passenger Vehicles, Passenger Cars, Utility Vehicles and Vans grew by 1.87 percent, 42.83 percent and 16.46 percent respectively during April 2016 over the same month last year.

The overall Commercial Vehicles segment registered a growth of 17.36 percent in April 2016 as compared to the same month last year. Medium & Heavy Commercial Vehicles (M&HCVs) registered a growth of 21.98 percent and Light Commercial Vehicles grew by 14.01 percent during April 2016 over the same month last year.

Three Wheelers sales grew by 36.68 percent in April 2016 over the same month last year. Passenger and Goods Carrier sales grew by 44.69 percent and 7.64 percent respectively in April 2016 over April 2015.

Two Wheelers sales registered a growth at 21.23 percent during April 2016 over April 2015. Within the Two Wheelers segment, Scooters, Motorcycles and Mopeds grew by 35.86 percent, 16.24 percent and 10.71 percent respectively in April 2016 over April 2015.

Automobile exports, however, declined substantially in April 2016, falling by 15.87 percent. While Passenger Vehicles exports registered a growth of 6.61 percent, the remaining segments like Commercial Vehicles, Three Wheelers and Two Wheelers declined by 2.68 percent, 61.86 percent and 10.80 percent respectively in April 2016 over April 2015.

Source : BS Motoring