Car sales up 9.53%, passenger vehicles up 16.68% in Aug: SIAM

The Dollar Business Bureau

Things seem to be looking good for the automobile industry in India. The Society of Indian Manufacturers (SIAM) released optimistic growth figures of car and passenger vehicles sales in August. According to SIAM, Domestic passenger vehicle sales grew 16.68% to 2,58,722 units in August from 2,21,743 units in the same month last year. Car sales were also up  by 9.53% to 1,77,829 units as against 1,62,360 units in August last year.

Motorcycle sales also jumped last month by 22.19% to 10,05,666 units as against 8,23,051 units a year before. In all the two wheeler segment sales in August grew 26.32% to 16,48,883 units compared with 13,05,248 units in the same month a year ago. The sales of commercial vehicles rose by 1.53% to 52,996 units in August, the manufacturer's association body said. Vehicle sales across all categories registered a growth of 23.72% to 20,10794 units from 16,25,332 units in August 2015.

Exports

According to a data released by SIAM India the overall automobile exports in April-March 2016, grew by 1.91%. Passenger Vehicles, Commercial Vehicles, Three Wheelers, and Two Wheelers registered a growth of 5.24%, 16.97% (-) 0.78% and 0.97% respectively in April-March 2016 over April-March 2015.