Auto Industry Growth Slows Down in January 2011

The cumulative production data for April-January 2011 shows production growth of 28.86 percent over same period last year. However, if one looks at production growth in January 2011 over January 2010, the overall growth rate is significantly down to less than 20%.

Domestic Sales

Passenger Vehicles segment grew at 30.97 percent during April-January 2011 over same period last year. Passenger Cars grew by 31.31 percent, Utility Vehicles grew by 20.59 percent and Multi-Purpose Vehicles grew by 46.53 percent in this period. January 2011 figures for domestic sales of Passenger Cars show a growth of only 26.28 percent over the same month last year. Total passenger vehicle sales figures for January 2011 compared to January 2010 shows growth stands at 24.68 percent.

The overall Commercial Vehicles segment registered growth of 31.23 percent during April-January 2011 as compared to the same period last year. While Medium & Heavy Commercial Vehicles (M&HCVs) registered growth of 37.69 percent, Light Commercial Vehicles grew at 26 percent. In contrast to the last January sales figures, January 2011 registered a growth of only 13 percent.

Three Wheelers sales recorded a growth rate of 19.51 percent in April-January 2011. While Passenger Carriers grew by 21.55 percent during April-January 2011, Goods Carriers registered growth of 11.23 percent.

Two Wheelers registered a growth of 27.04 percent during April-January 2011. Mopeds, Motorcycles and Scooters grew by 23.86 percent, 23.57 percent and 46.58 percent respectively.

If we compare January 2011 to January 2010, the growth figures for three and two wheelers are even lower at 22.64 percent and 17.55 percent respectively.

Exports

During April-January 2011, overall automobile exports registered a growth rate of 30.96 percent. Passenger Vehicles registered decline and the growth rate was (-) 2.87 percent in this period. Commercial Vehicles, Three Wheelers and Two Wheelers segments recorded growth of 75.80 percent, 64.03 percent and 37.77 percent respectively during April-January 2011.

In January 2011 compared to January 2010, passenger vehicle exports registered significant negative growth of (-) 14.69 percent.