Auto Industry Continues To Grow Despite Kerala Floods Curbing Sales

The Society of Indian Automobile Manufacturers (SIAM) released the industry's sales report for the ongoing financial year, from April to August 2018. The overall industry registered a growth of 12.73 per cent in domestic sales, with the total number of vehicles sold during this period accounting for 11,571, 473 units, against the 10,265,018 units sold during Apr-Aug 2017. In August 2018 alone, the industry's numbers went up by 3.43 per cent, to 2,381,931 units, compared to the 2,302,902 units sold during the same month last year. Seeing this numbers, SIAM says that the auto industry remains on its growth path, despite the Kerala floods restricting sales.

Overall passenger vehicle sales in India grew by 9.81 per cent between April and August 2018

While the overall passenger vehicle sales in India grew by 9.81 per cent between April and August 2018, with 1,451,647 units. Passenger car sales grew by 9.71 per cent, while utility vehicles and van sales grew by 8.67 per cent and 16.05 per cent, respectively, during this period. However, in August, passenger vehicle sales in the domestic market slumped by 2.46 per cent to 287,186 units from 294,416 units that were sold in August 2017. During last month, passenger car sales went down by 1.03 per cent, and UV sales dropped by 7.11 per cent, while Van sales went up by 2.41 per cent.

Also Read: Car Sales August 2018

Motorcycle sales saw the highest growth of 14.67 per cent between April and August 2018

The two-wheeler segment saw decent growth, both in August 2018 and during the Arp-Aug 2018 period. Between April and August 2018, two-wheeler sales registered a growth of 11.50 per cent, to 9,443,286 units, compared to the 8,469,183 units sold during the same period last year. Motorcycle sales saw the highest growth of 14.67 per cent during this period, while scooters and mopeds saw a growth of 6.77 per cent and 2.84 per cent respectively. In August 2018 alone, two-wheeler sales raised to 1,946,811 units from 1,891,685 units sold during the same month last year, registering a growth of 2.91 per cent.

Also Read: Two-Wheeler Sales August 2018: Bike Manufacturers Register Positive Growth

Commercial vehicle sales grew by 41.67 per cent in Apr-Aug 2018, with 391,260 units being sold during these months compared to the 27618 units sold during the same period last year. Medium and heavy vehicle sales grew by 54.92 per cent while light commercial vehicle sales grew by 34.41 per cent. Three-wheeler sales also grew by 44.27 per cent between Apr-Aug 2018, with 285,213 units. In August 2018, the commercial vehicle segment saw a total growth of 29.56 per cent, with the industry selling a total of 84,668 units last month, compared to 65,350 units sold in August 2017. Three-wheeler sales in August grew by 22.83 per cent with 63,199 units.

Commercial vehicle sales grew by 41.67 per cent in Apr-Aug 2018

Exports, on the other hand, saw a considerable double-digit growth, both in August 2018 and during the Arp-Aug 2018 period. The total industry saw a growth of 25.96 per cent, exporting about 2,003,944 units between April and August 2018. While two-wheelers, three-wheelers and commercial vehicle segments saw a considerable growth in exports of 28.18 per cent, 67.57 per cent, and 35.64 per cent, respectively, passenger vehicle exports dropped by 3.45 per cent. As for in August 2018, the industry's total exports grew by 23.70 per cent, to 411,357 units. Exports of passenger cars grew by 7.13 per cent, while the commercial vehicles, three-wheelers, and two-wheelers grew by 27.18 per cent, 61.82 per cent, and 22.15 per cent, respectively.

With Indian Government approving Quadricycles as a vehicle category in June, the industry saw a sale of a marginal 67 units in August 2018. Exports during Apr-Aug 2018 went up by 206.99 per cent, with 2,370 units compared to 772 units exported during the same period last year. In August, on the other hand, exports of Quadricycles reached 882 units, compared to 150 units exported in August 2017, registering a growth of 488 per cent.