Indian Economy News

India’s passenger vehicle sales grow for 12th month in a row

Mumbai: Sales of passenger vehicles in June grew for the 12th straight month, up 2.68% from a year ago.

Sales of passenger vehicles, which include cars, utility vehicles and vans, rose to 223,454 units in June, according to data compiled by industry lobby Society of Indian Automobile Manufacturers (Siam).

However, the pace of growth slowed with the car segment declining 5.18%. A fire at one of Maruti Suzuki India Ltd’s biggest vendors—Subros Ltd—that impacted Maruti’s production could be one of the reasons.

The popularity of sports utility vehicles (SUVs) is also affecting car sales, which have declined for the fifth time in six months. Utility vehicle sales continued to enjoy a healthy pace of growth. They grew 35.24% in June to 55,825 units.

Passenger vehicle sales in May had gained 6.26% to 231,640 units. For the year ended 31 March, they were up 7.24% to 2.78 million units. And, in the quarter ended 30 June, passenger vehicle sales grew 6.66%.

Sales of buses and trucks grew 5.63% to 56,032 units while two-wheeler sales grew 12.36% to 1.46 million units.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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