New Delhi, Jan 11 (IANS) Low interest and fuel costs coupled with robust urban demand and new launches accelerated domestic passenger car sales last year by 9.80 percent, industry data showed on Monday.
According to the data furnished by the Society of Indian Automobile Manufacturers (SIAM), passenger car sales during the previous year stood at 2,034,015 units.
The industry data showed that the total passenger vehicle sales, which include cars, utility vehicles and vans, went up by 7.86 percent to 2,772,745 units during the year under review.
Further, the data disclosed a 7.64 percent sales growth in the overall commercial vehicles segment, which is a key indicator of economic activity.
The commercial vehicles segment off-take for the year ended December 31, 2015, stood at 652,591 units.
However, three-wheelers’ sales declined by 3.29 percent to 514,058 units last year.
Overall two-wheelers’ segment sales which includes off-take for scooters, motorcycles and mopeds were flat.
The two-wheeler segment’s sales inched up by 0.86 percent to 16,122,322 units.
Product-wise, scooter sales during the year under review grew by 12.94 percent at 4,880,117 units.
Motorcycle sub-segment sales, however, dropped by 3.42 percent at 10,523,909 units.
In addition, moped off-take declined by 6.38 percent at 718,296 units during the period under review.
Besides, overall exports across categories were flat during the year under review.
It reported a miniscule growth of 0.57 percent to 3,610,999 units which were shipped out during 2015.
Total automobile sales last year were higher by 1.87 percent at 20,061,716 units from 19,693,418 units sold in 2014.
For last month, SIAM data revealed a growth of 12.87 percent in the domestic passenger car sales which stood at 172,671 units.
“Looking at different segments and sub-segments, vehicle sales growth trend continues in December 2015,” said Abdul Majeed, partner and auto expert with PriceWaterhouse.
“Growth is fuelled by positive urban customer sentiments, gradual uptick in the economy and hope that the economy will do much better in the coming quarters.”
The data further showed that the total passenger vehicle sales went up by 10.46 percent to 230,960 units during the month under review.
Sales of utility vehicles rose by 4.18 percent to 44,874 units. Vans’ off-take inched-up by 2.99 percent to 13,415 units.
Overall commercial vehicles segment sales during last month showed a growth of 11.45 percent to 56,840 units.
Three-wheelers’ sales augmented by 17.45 percent in the month under review at 46,881 units.
On the other hand, overall two-wheelers segment’s sales were lower by 3.10 percent to 1,167,633 units from 1,204,942 units sold in the like month of 2014.
On product specific basis, scooter sub-segment’s sales in December edged up by 3.12 percent at 386,305 units.
In contrast, motorcycle sales receded by 5.93 percent to 724,807 units.
Similarly, mopeds’ sales declined in the month under review.
The sub-segment’s off-take was down by 5.52 percent at 56,521 units during the month under review.
In addition, overall exports, too, declined during December.
The exports were lower by 7.48 percent at 311,021 units sold abroad from 336,178 units shipped out during December 2014.
Total automobile sales were flat – down 0.17 percent to 1,502,314 units from 1,504,944 units sold during the corresponding month of 2014.