Car sales in India declined 8.15% during the month of November. Society of Indian Automobile Manufacturers (SIAM) has indicated that a revival of sorts could only happen once the new Central Government is formed after General Elections in early 2014.
Domestic passenger car sales during November 2013, stood at a total of 1,42,849 units as compared to 1,55,535 units sold in November 2012. Higher rates of interest and escalating fuel prices also have a major part to play in lower consumer sentiments.
Sales of commercial vehicles were down 28.8% during the past month while demand for medium and heavy commercial vehicles dropped by 34% YOY. The only silver lining to the dark cloud looming over the auto industry was where sales of two wheelers were concerned. This sector saw an increase of 5.5% as 12.4 lakh units were sold. Automakers are planning to curtail production so as to align supply and demand. Maruti Suzuki has decreased production by 10% while Tata Motors has brought production down by 35%.
Auto industry total production stood at 1,773,678 vehicles including passenger vehicles, commercial vehicles, three wheelers and two wheelers for November 2013 as against 1,644,723 in November 2012. This equates to 7.84% production growth banking largely on growth in two wheelers production.
Overall domestic sales growth during April-November 2013 was 2.73% over the same period in 2012, also based on two wheelers sales growth. Passenger cars registered 5.34% sales decline during April-November 2013 over the same period last year. Passenger Cars, Utility Vehicles and Vans registered 4.97%, 3.62% and 12.23% sales decline respectively during April-November when compared to the same period in 2012.
Commercial Vehicles segment registered 17.51% sales decline in April-November 2013 as compared to the same period last year. Medium & Heavy Commercial Vehicles (M&HCVs) registered 26.81% sales decline, while Light Commercial Vehicles sales decline was 12.52% for the same period.
Three Wheelers sales declined was 7.83% for April-November 2013. Passenger Carriers and Goods Carriers sales decline is 8.29% and 5.70% respectively for the same period when compared to Apr-Nov 2012.
Two Wheelers recorded 5.78% sales growth for April-November 2013 as compared to the same 8 months last year. Scooters and Motorcycles grew at 18.70% and 3.32%, while Mopeds sales decline was 10.49% for April-November 2013.
April-November 2013, overall automobile exports registered 5.52% sales growth. Passenger Vehicles, Three Wheelers and Two Wheelers registered 9.64%, 16.98%, and 3.41% sales growth respectively. Commercial Vehicles registered 12.31% sales decline for the same period.