Sunday, 24 September, 2017

Sales of cars, SUVs rise in August

Differential taxes on hybrid vehicles important for promoting them: SIAM Car sales see 12 per cent growth in August
Sammy Stanley | 13 September, 2017, 03:38

Growth in total automobile sales, which include commercial vehicles, passenger vehicles, two and three wheelers, inched 1.5 percentage points from the month of July to 13.5 per cent in August, year-on-year (y-o-y).

Sales of passenger cars stood at 198,811 units, registering a growth of 11.80 percent (August 2016: 177,829).

Within passenger vehicle segment both passenger cars and utility vehicles have continued to grow at 11.80 percent and 19.62 percent in a domestic market.

The passenger vehicle (PV) segment, which was the most affected by the additional GST cess, posted growth of 13.76 percent with sales of 294,335 units (August 2016: 258,737), marginally down on July 2017 numbers of 298,997 units.

Auto sales in India registered a robust 14% growth during the month of August.

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"In terms of passenger vehicles and two-wheelers this basically implies that rural demand is back after the impact of demonetisation... monsoon has been good and the impact of demonetisation is wearing off so that we are seeing the industry bouncing back in the month of August", said Vishnu Mathur, Director General of SIAM. Within the Passenger Vehicles, Passenger Cars, Utility Vehicle and Vans grew by 6.57 percent, 15.97 percent and 2.27 percent respectively in April-August 2017 over the same period a year ago. UV sales grew by 19.62% as it sold 78,664 units in August 2017 in comparison to 65,760 units in the same month previous year. The overall industry registered positive sales figures last month and the two-wheeler industry, in particular, saw double digit growth in the domestic market compared to sales in August 2016. On Saturday, the GST Council approved increasing cess on mid-sized cars by 2 per cent, large cars by 5 per cent and SUVs by 7 per cent and it has come into effect from Monday.

According to report by CARE Ratings, "The sales numbers in August 2017 are clearly positive, signalling that the automobile industry is nearly out of the hard times".

Chennai-based TVS Motor Co sold 1,09,465 units of scooters last month as compared to 73,761 units in August last year, a growth of 48.4 per cent. Hero MotoCorp followed with 77,638 units as compared to 81,015 units in the corresponding month a year ago, down 4.17 per cent.

Three Wheelers sales declined by (-) 16.26 percent in April-August 2017 over the same period previous year. Passenger carrier sales declined by 2,969 units in August 2017 in comparison with 4,100 units sold in the same month past year. Commercial vehicle sales, too, increased 23.22% year on year to 65,310 units due to increase in movement of goods, SIAM said.

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