Passenger vehicles drive in fast lane, May sales rise 20%

11 June, 2018 5:16 PM

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Demand robust across segments including cars, vans: SIAM

Passenger vehicle sales in India rose almost 20% in May, driven by strong sales across segments, including utility vehicles, cars and vans, registering a second consecutive month of robust sales.

According to data released by the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle (PV) sales last month rose to 3,01,238 units, up 19.65% from 2,51,764 units in May, 2017.

Domestic car sales were up 19.64% at 1,99,479 units as against 1,66,732 units in the same month last year. Utility vehicle (UV) sales rose 17.53% to 82,086 units, while van sales surged 29.54% to 19,673 units during the month. “Industry is well on track as far as sales growth is concerned. All segments have shown robust sales during the month,” SIAM director general Vishnu Mathur told reporters here.

There were various factors, including new product introductions, which helped create sales momentum in the PV segment, he added.

“Sales were impacted last year in April-May period as people anticipated increase in vehicle prices due to the roll out of GST. So, the growth we see in May this year is on a somewhat lower base last year,” he said.

Even exports of PVs were up 3.45% at 59,648 units in May as against 57,657 units in the same month last year.

According to SIAM, total two-wheeler sales in May rose 9.19% to 18,50,093 units compared with 16,94,323 units in the year-ago month.

Source: thehindu.com

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