Indian Automobile Industry News October 2015
The festive mood finally brought cheers to the Indian Automobile manufacturers and pushed automobile sales as the Society of Indian Automobile Manufacturers (SIAM) report showed 13.91% growth in the Indian Automobile industry sales for the month of October 2015. And this growth was seen among all segments of the automobile industry i.e. passenger vehicles and commercial vehicles, two wheelers and three wheelers. The production was also up 14.40% for the current month. However, exports registered a decline of 5.56%.
Chart: Indian Passengers Vehicles Sales, Production and Exports, October 2015
Indian Passenger Vehicles registered an impressive overall growth of 21.46% for the month of October 2015 with all sub-segments showing positive sales results. Passenger Cars witnessed highest sales growth of 21.8% in the category. Utility Vehicles followed with handsome growth of 20.82% compared to 8.56% decline in the past month. Similarly, Vans sales also grew by 19.79% for the current month.
Chart: Indian Automobiles Industry Production share by segments, October 2015
Chart: Indian Commercial Vehicles Sales, Production and Exports, October 2015
Commercial Vehicles maintained their growth trend with a slight improved growth rate of 12.73% in October 2015 compared to last month. The Medium & Heavy Commercial Vehicles (M&HCVs) provided the biggest push for the segment with 23.97% sales growth with Passenger Carriers sales growing at 17.61% and Goods Carriers growing at 24.79%. Sales in Light Commercial Vehicles (LCVs) segment turned positive this month compared to last month's negative trend with a growth of 6.83%. Passenger Carriers sales grew by 35.08% while Goods Carriers managed a 4.75% sales growth.
Chart: Indian Automobiles Industry Domestic Sales share by segments, October 2015
Chart: Indian Three Wheelers Sales, Production and Exports, October 2015
Three wheelers sales also turned positive but was almost negligible. The segment saw 0.10% growth in sales with Passenger Carriers sales declining by 0.91% while Goods Carriers sales growing by 5.14%.
Chart: Indian Two Wheelers Sales, Production and Exports, October 2015
Sales of Two Wheelers registered growth of 13.31% in October 2015. Scooters witnessed an impressive growth of 36.80% in sales with Motorcycles following with a 5.66% sales growth. Mopeds, however, saw a decline of 5.54% in sales in the month of October 2015.
Chart: Indian Automobiles Industry Exports share by segments, October 2015
Automobile exports displayed a reversal trend in October 2015 with negative growth of 5.56%. Passenger vehicles exports grew by 21.83%, with utility vehicles exports growing by whopping 131.35% with exports of passenger cars and vans growing by 9.05% and 8.70% respectively. Commercial vehicles exports registered an 8.99% growth with exports of M&HCVs and LCVs growing by 15.54% and 5.71% respectively. However, exports in three wheelers and two wheelers declined respectively by 8.85% and 11.73%.
Source: The Society of Indian Automobile Manufacturers (SIAM)