Auto industry sees sustained recovery in May 2016
Moneylife Digital Team 10 June 2016
The automobile industry produced a total of 4,312,859 vehicles including passenger vehicles, commercial vehicles, three wheelers, two wheelers and quadricycle in April-May 2016 as against 3,875,828 in April-May 2015, registering a growth of 11.28% over the same month last year, according to a release from Society of Indian Automobile Manufacturers (SIAM).
 
The sales of passenger vehicles grew by 8.65% in April-May 2016 over the same period last year. Within the passenger vehicles segment, passenger cars, utility vehicles and vans grew by 0.50%, 39.37% and 6.69% respectively during April-May 2016 over the same period last year.
 
The overall commercial vehicles segment registered a growth of 17.12% in April-May 2016 as compared to the same period last year. medium & heavy commercial vehicles (M&HCVs) registered a growth at 21.49% and light commercial vehicles grew by 13.93% during April-May 2016 over the same period last year. 
 
Three Wheelers sales grew by 31.75% in April-May 2016 over the same month last year. passenger and goods carrier sales grew by 36.93% and 11.96% respectively in April-May 2016 over April-May 2015.
 
Two-wheelers sales registered a growth at 15.29% during April-May 2016 over April–May 2015. Within the two-wheelers segment, scooters, motorcycles and mopeds grew by 30.27%, 9.54% and 14.77% respectively in April-May 2016 over April-May 2015. 
 
In April-May 2016, overall automobile exports declined by 9.64%. While passenger vehicles and commercial vehicles registered a growth of 3.51% and 1.65%, three-wheelers and two-wheelers declined by 54.27% and 3.95% respectively in April-May 2016 over April-May 2015.
 
Comments
Free Helpline
Legal Credit
Feedback