July passenger car sales down 7.40 percent

Sales of domestic passenger car segment fell 7.40 percent in July, indicating a bearish consumer sentiment due to slow economic growth, high fuel and interest costs.

Data furnished Monday by the Society of Indian Automobile Manufacturers (SIAM) showed that 131,163 units were sold in the month under review from an off-take of 141,646 units in the corresponding period of 2012.

Utility vehicles sales fell by 17.53 percent at 37,010 units from 44,878 units sold in the corresponding period of 2012.

However, the sales of vans grew by 886 percent at 18,066 units from 16,595 units off-take in July last year.

Total passenger vehicle sales which includes, cars, utility vehicles and vans in the month under review went down by 8.31 percent at 186,239 units from an off-take of 203,119 units in July, 2012.

For last month, SIAM reported a decline of 14.938 percent in sales of heavy, medium and light commercial vehicles which are a key indicator of economic activity. Sales stood at 55,301 units from 65,008 units in the corresponding month of last year.

Three-wheeler sales slumped by 6.41 percent at 41,570 units from an off-take of 44,289 units sold in July, 2012.

Total two-wheeler sales in the month under review marginally declined by 0.06 units at 1,131,992 from 1,132,696 units. Total motorcycle sales fell by 1.52 percent at 809,312 units from an off-take of 821,821 units in July, 2012.

However, scooter segment sales in the month under review grew by 9.80 percent at 271,438 units from 247,213 units sold in the corresponding period of last year.

Total exports for the month went up by 3.80 percent at 244,912 units from 235,939 units being shipped out.

Total domestic sales in July, 2013 fell by 2,08 percent at 1,415,102 units from 1,445,112 units sold in the corresponding month of last year.