New Delhi: India’s automobile sector clocked a robust growth in October, with passenger vehicle (PV) sales, which include cars and SUVs, shooting past the 5 lakh mark for the first time in the month, according to figures released by the Society of Indian Automobile Manufacturers (SIAM) on Friday.
Domestic PV sales posted a double-digit growth of 12.4 per cent to 519,060 units in October compared with 461,614 units in the same month of the previous year. Utility vehicles led the segment with 301,141 units, up 11.4 per cent. Car sales recorded an 11.8 per cent growth at 130,305 units.
Two-wheeler sales surged 16.1 per cent to 2,577,810 units with scooters clocking a 31.6 per cent jump to 1,096,756 units. Motorcycle sales grew at a 6.6 per cent to touch 1,423,118 units, while mopeds rose 13 per cent.
Three-wheeler sales climbed 25.7 per cent to 103,349 units, led by passenger carriers (up 26.9 per cent) and goods carriers (up 27.4 per cent). However, e-rickshaw sales fell 22.3 per cent and e-cart sales 17.8 per cent.
The cumulative sales during April-October Two-wheeler sales rose 17.4 per cent to 14,664,622 units during the seven-month period, while three-wheeler sales increased 26.2 per cent to 605,211 units. Passenger vehicle sales, for which Tata Motors data was available only for April-September, rose 25.5 per cent to 3,082,634 units.
Total production across passenger vehicles, three-wheelers, two-wheelers and quadricycles rose 28.6 per cent to 3,618,753 units, well above the 15.7 per cent growth in domestic sales, which reached 3,126,325 units. However, exports also grew 26.1 per cent, indicating that stronger overseas shipments accompanied the increase in production.
The rise in sales was also accompanied by an increase in production of vehicles. Passenger vehicle production rose 26.3 per cent to 509,910 units, while two-wheeler production increased 28.9 per cent to 2,948,471 units. Three-wheeler production grew 31.3 per cent to 158,416 units.
Exports also posted a double-digit growth of 26.1 per cent to 682,299 units. Two-wheelers accounted for 543,972 of these, up 26.5 per cent. Scooter exports nearly doubled, rising 80.4 per cent to 85,292 units, while motorcycle exports grew 20.1 per cent. Passenger vehicle exports rose 21.8 per cent to 83,716 units, and three-wheeler exports rose 26.7 per cent to 53,039 units.
SIAM director general Rajesh Menon said, ” The Indian automobile industry continues to witness healthy demand momentum.
The two-wheeler demand was supported by improved credit availability and replacement demand across rural and urban markets. Last-mile mobility requirements and rapid electrification remained strong structural drivers for three-wheelers. Overall, the demand outlook remains positive, he added.
(IANS)
