Domestic car sales jumps 7% in November

09 Dec 2011 Evaluate

After reporting negative sales number for four consecutive months, domestic car sales posted a growth of 7% in November 2011. According to the data by Society of Indian Automobile Manufacturers (SIAM), car makers sold around 1, 71,131 units during last month compared to 1, 59,939 units in November 2010. However, according to SAIM this increase in growth in car sales is because of lower base for November 2010 and increase in demand.

“The growth in November is still not enough to revive the industry. We don’t expect to meet our forecast of 2% to 4% growth in car sales for this fiscal and we may revise the forecast in January,” Sugato Sen, senior director at SIAM, said.

Earlier in October, the SAIM has downgraded its growth outlook for car sales to 2%-4% from its earlier projection of 10%-12% in July and 16%-18% in April. This downgrade in projects shows the sector is under pressure due to the surge in fuel prices and high interest rates.

According to SAIM data, in November 2011 overall domestic sale of vehicles saw growth of 22.22% as compared to November 2010 and during April-November 2011, the overall domestic car sales grew by 13.08%.

Segment wise, the Passenger Vehicle segment in month of November grew by 8.30% as compared to November 2010. Despite the slowdown in economic activities the Commercial Vehicles segment saw growth of 34.99%. In November 2011, the Three Wheelers and Two Wheelers sales grew by 5.85% and 25.27% respectively.

The overall Commercial Vehicles segment registered growth of 19.95% during April-November 2011 as compared to the same period last year. While Medium & Heavy Commercial Vehicles (M&HCVs) registered growth of 9.39%, Light Commercial Vehicles grew at 29.26%. Three Wheelers sales recorded marginal growth of 0.37% in April-November 2011. While Passenger Carriers registered decline by -2.95% during April-November 2011, Goods Carriers registered growth of 15.34%. Two Wheelers registered a growth of 16.11% during April-November 2011. Mopeds, Motorcycles and Scooters grew by 10.99%, 14.87% and 23.40% respectively.

In November 2011, the overall automobile exports grew by 38.17%. During April-November 2011, overall automobile exports registered a growth rate of 30.68%. Passenger Vehicles registered growth at 21.15% in this period. Two Wheelers, Commercial Vehicles and Three Wheelers segments recorded growth of 31.09%, 25.95% and 44.21% respectively during the said period.

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