Low Consumer Sentiment and Tight Liquidity Weighs On November Vehicle Sales

A latest update from the Society of Indian Automobile Manufacturers (Siam) showed sales of medium and heavy commercial vehicles (M&HCV) dropped 11% from the year earlier in November to 25,363 units. Low consumer sentiment and tight liquidity is weighing on the market, the organization stated.

SIAM noted that the domestic auto industry produced a total 21,945,408 vehicles including passenger vehicles, commercial vehicles, three wheelers, two wheelers and quadricycle in April-November 2018 as against 19,502,502 in April-November 2017, registering a growth of 12.53% over the same period last year.

The sale of Passenger Vehicles grew by 4.90% in April-November 2018 over the same period last year. Within the Passenger Vehicles, the sales of Passenger Cars, Utility Vehicle & Vans grew by 5.03%, 3.19% and 11.43% respectively in April-November 2018 over the same period last year.

The overall Commercial Vehicles segment registered a growth of 31.49% in April-November 2018 as compared to the same period last year. Medium & Heavy Commercial Vehicles (M&HCVs) increased by 34.45% and Light Commercial Vehicles grew by 29.73% in April-November 2018 over the same period last year.

Three Wheelers sales increased by 25.16% in April-November 2018 over the same period last year. Within the Three Wheelers, Passenger Carrier sales registered a growth of 28.36% and Goods Carrier grew by 12.06% in April-November 2018 over April-November 2017.

Two Wheelers sales registered a growth at 10.69% in April-November 2018 over April-November 2017. Within the Two Wheelers segment, Scooters, Motorcycles and Mopeds grew by 5.77%, 13.65% and 6.40% respectively in April-November 2018 over April-November 2017.

In April-November 2018, overall automobile exports grew by 20.78%. While Passenger Vehicles exports declined by (-) 6.00%, Commercial Vehicles, Three Wheelers and Two Wheelers registered a growth of 18.84%, 59.29% and 22.60% respectively in April-November 2018 over the same period last year.

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