Indian Automobile Industry News August 2015
Indian Automobile industry witnessed declining domestic sales growth in August 2015 leading to negative sales growth of 2.07% for the current month according to the Society of Indian Automobile Manufacturers (SIAM) released figures. Weakening sales in Passenger and commercial vehicles, combined with continued negative growth in three wheelers and two wheelers segments resulted in the sales decline in the industry. Growth in automobiles industry production also came down a little to 1.97% while exports bettered growth at 8.66%.
Passenger vehicles segment registered a slower growth of 3.99% in sales in August 2015 compared to July 2015. Passenger vehicles growth came down to 6.06% in the current month from 17.47% in July 2015, while Vans registered a positive growth of 8.19%. Utility vehicles sales growth went negative, registering a decline of 4.07%.
Commercial Vehicles continued its mix trends with Medium & Heavy Commercial Vehicles (M&HCVs) posting a sales growth of 35.39%. Within this segment passenger carriers grew 12.43% while goods carriers increased sales by 39.50%. Light Commercial Vehicles (LCVs) segment sales declined by 7.41%, as goods carriers sales declined by 9.01% while the passenger carriers grew by 5.76%. As a result the Commercial Vehicles segment registered a growth of 7.58% in August 2015.
Sales in three wheelers segment continued its decline with a drop of 12.23% in August 2015, registering decline of 11.48% and 16.41% in sales of passenger carriers and goods carriers respectively.
Two Wheelers segment sales also declined by 2.98% in August 2015 with motorcycles and mopeds sales declining by 9.59% and 16.30%, respectively. Scooters registered a sales growth of 15.66%.
Exports were again positive across all segments in August 2015, like the previous month, registering growth of 8.66%. Passenger vehicles exports were up by 12.28% while exports of commercial vehicles grew by 31.32%. Three wheelers and two wheelers grew exports by 6.27% and 7.55% respectively in August 2015.
Source: The Society of Indian Automobile Manufacturers (SIAM)