Domestic passenger car sales plunge 26% in Feb: SIAM

There seems to be no end to the speed bumps encountered by passenger car makers in India. Domestic car sales in Feb plunged 26 percent year-on-year, the most in 12 years, according to data released by Society Indian Automobile Manufacturers (SIAM). Total passenger vehicle sales (cars + utility vehicles) last month declined 17 percent.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney
moneycontrol.com

Home » News » Business

Mar 12, 2013, 09.35 AM | Source: Moneycontrol.com

Domestic passenger car sales plunge 26% in Feb: SIAM

There seems to be no end to the speed bumps encountered by passenger car makers in India. Domestic car sales in Feb plunged 26 percent year-on-year, the most in 12 years, according to data released by Society Indian Automobile Manufacturers (SIAM). Total passenger vehicle sales (cars + utility vehicles) last month declined 17 percent.

Like this story, share it with millions of investors on M3

Domestic passenger car sales plunge 26% in Feb: SIAM

There seems to be no end to the speed bumps encountered by passenger car makers in India. Domestic car sales in Feb plunged 26 percent year-on-year, the most in 12 years, according to data released by Society Indian Automobile Manufacturers (SIAM). Total passenger vehicle sales (cars + utility vehicles) last month declined 17 percent.

Post Your Comments

Share Cancel

Moneycontrol Bureau

There seems to be no end to the speed bumps encountered by passenger car makers in India. Domestic car sales in Feb plunged 26 percent year-on-year to 1.59 lakh units, the most in 12 years, according to data released by Society Indian Automobile Manufacturers (SIAM). Total passenger vehicle sales (cars + utility vehicles) last month declined 17 percent.

Car sales in India have slumped over the last one year amid high fuel prices and expensive loans. Only utility vehicles have seen good growth, helped by new launches like Mahindra Quanto, Renault Duster and Maruti Suzuki Ertiga.

So far this financial year (Apr-Feb), passenger car sales are down 5 percent at 17.15 lakh units, according to SIAM. Utility vehicle sales, on the other hand, have accelerated 54 percent to about 5 lakh units.

Its not just car sales that have hit the slow lane. Medium and Heavy Commercial Vehicles and two-wheelers also continue to see sluggish demand.

Over Apr-Feb, M&HCV sales are down 23 percent to 2.39 lakh units, while LCV sales have gained 15 percent to 4.70 lakh units. Total CV sales so far this fiscal have slipped 1.5 percent to 7.08 lakh units.

In the two-wheeler space, only scooters witnessed some growth last month, gaining around 3 percent. However, moped sales were flat and motorcycle sales tumbled 4.5 percent.

In the Apr-Feb period, two-wheeler sales grew just 4 percent to 1.63 crore units. Scooter sales gained 16 percent at 26.73 lakh units, motorcycles grew 1 percent at 93 lakh units and moped sales were up 2 percent at 7.2 lakh units. 

Buy, Hold, Sell ? Hear it first on M3
Domestic passenger car sales plunge 26% in Feb: SIAM

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login