Car sales down 2.2 percent, expected to miss early sales growth target

Sale of domestic passenger cars fell by 2.22 percent in October, industry data showed Monday.

Car sales had dropped by 1.03 percent in September, after gaining momentum for the last four months with consecutive gains in sales.

Data furnished Monday by the Society of Indian Automobile Manufacturers (SIAM) showed that 159,036 units were sold in the month under review as against an offtake of 163,199 units in the corresponding month of 2013.

According to SIAM, the passenger vehicle sales are fall short of the projected growth of 5-10 percent this fiscal, a SIAM official said.

Three-months back SIAM had said that it expected domestic car sales to grow between 5 and 10 percent.

The current data also showed that utility vehicles sales fell by 15.01 percent at 48,465 units from 57,023 units sold in the corresponding month of 2013.

Domestic sales of vans fell by 27.85 percent at 13,650 units from 18,918 units off-take in October, last year.

Total passenger vehicle sales which includes, cars, utility vehicles and vans in the month under review went down by 7.52 percent at 221,151 units from an off-take of 239,140 units in October 2013.

Sales of heavy, medium and light commercial vehicles (M&HCVs) which are a key indicator of economic activity stood at 17,866 units from 14,261 units in the corresponding month of last year, representing an increase of 25.28 percent.

Three-wheeler sales gained by 5.82 units at 52,318 units from 49,440 units sold in October, 2013.

However, total two-wheeler sales in the month under review fell by 3.61 percent at 1,461,712 units from 1,516,457 units sold in the corresponding month of 2013.

Total motorcycle sales decreased by 8.73 percent at 1,008,761 units from an off-take of 1,105,269 units in October last year.

Scooter segment sales in the month under review zoomed by 10.89 percent at 383,885 units from 346,171 units sold in the corresponding period of last year.

Total exports for the month went up by 18.64 percent at 214,743 units from 177,570 units being shipped out.

Total vehicle sales in October fell 3.84 percent at 1,787,146 units from 1,858,594 units sold in the corresponding month of last year.