Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
CO-PRESENTED BY

Lok Sabha Elections 2019Exit Poll Results

All India Figures

Assembly Elections 2019 Exit Poll Results

»
2-min read

Passenger Vehicle Sales Dip In November, See Fourth Monthly Decline Since July

Passenger vehicle sales in November stood at 2,66,000 units as against 2,75,440 units in the year-ago month, down 3.43 percent.

PTI

Updated:December 11, 2018, 9:48 AM IST
facebookTwittergoogleskypewhatsapp
Passenger Vehicle Sales Dip In November, See Fourth Monthly Decline Since July
(Image for representational purpose/Reuters)
Loading...
Domestic passenger vehicle sales declined in November, the fourth monthly decline since July, as spike in interest rates and high fuel prices crimped consumer demand.

According to the latest data released by Society of Indian Automobile Manufacturers (Siam), passenger vehicle (PV) sales in November stood at 2,66,000 units as against 2,75,440 units in the year-ago month, down 3.43 percent.

PV sales had risen 1.55 percent in October, snapping three months of consecutive decline. In July, August and September PV sales have declined by 2.71 percent, 2.46 percent and 5.61 percent, respectively.

Vote Now! Tech And Auto Awards 2018 is here. Click here to vote for your favourite gadgets and cars.

"We have been witnessing flat growth in PV sales for last couple of months due to factors like high interest rates and rising fuel prices. However, fuel prices have started to come down and we expect to see its positive impact going ahead," SIAM Director General Vishnu Mathur told reporters here.

In November, particularly, consumer sentiments remained low due to all these factors leading to a muted sales growth during the month, he added.

Mathur, however, said that overall sales across various segments during the month remained robust.

Vehicle sales across categories registered a rise of 5.03 percent to 20,38,015 units from 19,40,462 units in November 2017.

"Even during the April-November period of this fiscal, PVs have grown by 5 percent, commercial vehicles by over 31 percent, three-wheelers by over 21 percent and two-wheelers by over 10 percent. So the overall sales growth during the period has been around 11 percent," Mathur said.

He, however, admitted that it would be difficult to meet growth of 7-8 percent (earlier forecast) in the PV segment with just three months remaining in the current fiscal.

During the month, market leader Maruti Suzuki India posted a marginal decline in PV sales at 1,43,890 units. Rival Hyundai Motor India also reported marginal decline at 43,709 units.

Homegrown utility vehicle major Mahindra & Mahindra posted 1.26 percent increase in its PV sales at 16,191 units in November. Tata Motors saw sales dip 3.26 percent at 18,226 units during the month.

Car sales declined marginally to 1,79,783 units last month as against 1,81,435 units in the same month last year.

Siam said total two-wheeler sales in November were up 7.15 percent to 16,45,791 units as against 15,36,015 units in the year-ago month.

The growth was mainly on the back of good motorcycle sales, which increased 9.36 percent last month to 10,49,659 units compared to 9,59,860 units in November 2017.

"Three consecutive years of good monsoon have led to a strong demand coming from rural markets for motorcycles which is driving the sales growth to a large extent," Siam Deputy Director General Sugato Sen said.

During the month, market leader Hero MotoCorp saw its bike sales grow by 4.98 percent to 5,36,193 units. Rival Bajaj Auto also witnessed a 44.6 percent jump at 2,05,259 units, while Honda Motorcycle and Scooter India (HMSI) saw motorcycle sales dip 14.97 percent at 1,27,896 units in November.

Scooter sales in November were at 5,21,542 units as against 5,06,267 units in the same month last year. Market leader HMSI's scooter sales were at 2,66,350 units in November, down 5.45 percent.

Chennai-based TVS Motor Co posted 38.76 percent jump in its scooter sales at 1,05,576 units, while Hero MotoCorp witnessed a decline of 16.62 percent at 64,852 units in November this year. Sales of commercial vehicles jumped 5.71 percent to 72,812 units in November as against 68,876 units in the year-ago month, Siam said.
| Edited by: Ayushmann Chawla
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
 
 

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results