Indian auto Industry sales suffer following economic downturn
Society of Indian Automobile Manufacturers (SIAM) state that the ongoing economic downturn has adversely affected the two wheeler and four wheeler industry in the country….
Where domestic sales were concerned, there was growth of 6.61% over last year’s figures while sales in the month of August 2012 dipped by 3.9%a s compared to the same month in the previous year. Passenger Vehicle sales increased by 7.42% in the period April to August 2012. Passenger car sales increased by 0.86% while sale of SUVs was the only silver lining to the dark cloud as it saw a 57.03% increase in sales. Passenger vehicle sales in the month of August 2012 were down 4% as compared to August 2011 figures.
The same situation prevailed over the three wheeler industry. Marginal growth was recorded to the tune of 0.59% during the period April to August 2012. Passenger Carrier sales increased by 4.45% while sales of Goods Carriers dipped by 13.40% during the same period.
India auto news release: conomic Downturn Hits Auto Industry
The cumulative production data for April-August 2012 shows production growth of only 4.20 percent over same period last year. However, the industry produced only 1,564,259 vehicles in August 2012 as against 1,682,213 in August 2011, which is deceleration of manufacturing to the tune of 7 percent.
The overall growth in domestic sales during April-August 2012 was 6.61 percent over same period last year. However, in August 2012 overall sales declined by (-3.9) percent over August 2011.
Passenger Vehicles segment grew at 7.42 percent during April-August 2012 over same period last year. Passenger Cars marginally grew by 0.86 percent, Utility Vehicles grew by 57.03 percent and Vans grew by (-9.37) percent during April-August 2012 as compared to same period last year. However, in August passenger car sales declined by over 18.5 percent over August 2011. Total passenger vehicles sales also declined in August 2012 by almost 4 percent over same month last year.
The overall Commercial Vehicles segment registered growth of 4.57 percent in April-August 2012 as compared to the same period last year. While Medium & Heavy Commercial Vehicles (M&HCVs) registered negative growth at (-11.94) percent, Light Commercial Vehicles grew at 17.05 percent.
Three Wheelers sales recorded marginal growth at 0.59 percent in April-August 2012. Passenger Carriers grew by 4.45 percent during April-August 2012 and Goods Carriers registered de-growth at (-13.40) percent during this period.
Two Wheelers registered a growth of 6.80 percent during April-August 2012. Mopeds, Motorcycles and Scooters grew by 3.20 percent, 3.31 percent and 22.96 percent respectively in the period of April-August 2012. However, in August 2012, motorcycle sales declined by almost 8.5 percent over same month last year.
During April-August 2012 overall automobile exports registered negative growth at (-5.56) percent. While Passenger Vehicles grew by 1.29 percent and Commercial Vehicles grew by 7.48 percent. Two & Three wheelers declined by (-2.17) and (-34.97) percent respectively in April–August 2012 compared to the same period last year. In August 2012 car exports fell by almost 27 percent compared to last year August and motorcycle exports declined by over 7 percent during the same period.