Production growth during the period April 2012 to January 2013 stood at 2.76% as against the same period in the previous year. There were a total of 1,840,858 units produced in January 2013 as compared to 1,703,926 units produced in January 2012 indicating a growth rate of just 8.04%.
Taking only domestic sales into account, the fiscal year to Jan 2013 period saw a 4.66% increase as compared to the same period in the previous year. Passenger vehicle and commercial vehicle sales were much lower than expectations. Passenger vehicle grew at 6.80% during April 2011 to January 2012. Passenger car sales dipped to -1.80% though there was increased demand for utility vehicles and vans during the same period with a 56.87% growth rate where utility vehicles were concerned, reports SIAM – Society of Indian Automobile Manufacturers.
Commercial vehicle segment recorded a -0.37% growth rate during April 2012 to January 2013. While light commercial vehicle grew at 15.48% during the period, heavy and medium commercial vehicle saw a drastic decline to -21.37%.
Two wheeler sales did comparatively well during the period April to January 2013 with a 4.53% increase in sales. During January 2013, scooters, motorcycles and mopeds saw a sales growth of 12.24%, 7.45% and 8.26% respectively.