Automobile sector rides low base to high growth; passenger vehicle sales up

Maruti Suzuki, Hyundai, Tata Motors and Toyota all reported double-digit growth

Wholesale despatches of all automobile segments, from manufacturers to dealers, expanded in high double-digit last month over the same period a year before.

This was due to the low base of June 2017, when dispatches had slowed, owing to the transition to the national Goods and Services Tax (GST) regime. Most segments saw a decline in June last year; some had managed low single-digit growth.

Data from the Society of Indian Automobile Manufacturers (Siam) show sale of passenger vehicles (cars, utility vehicles, vans) grew 37.5 per cent last month to 273,759 units. Within this segment, those of cars grew 34 per cent