Overall auto Industry grows in double digit: SIAM

 

The auto industry produced a total 21,415,719 vehicles including Passenger Vehicles, Commercial Vehicles, Three Wheelers, Two Wheelers and Quadricycle in April-December 2017 as against 19,247,352 in April-December 2016, registering a growth of 11.27 percent over the same period last year, according to SIAM data.

SIAM data further stated that sale of Passenger Vehicles grew by 8.13% in April-December 2017 over the same period last year. Within the Passenger Vehicles, Passenger Cars, Utility Vehicle and Vans grew by 4.19 percent, 19.43 percent and 6.86 percent respectively in April-December 2017 over the same period last year.

The overall Commercial Vehicles segment grew by 15.19% in April-December 2017 as compared to the same period last year. Medium & Heavy Commercial Vehicles (M&HCVs) increased by 9.27 percent and Light Commercial Vehicles grew by 19.29 percent in April-December 2017 over the same period last year.

Three Wheelers sales grew by 7.89 percent in April-December 2017 over the same period last year. Within the Three Wheelers, Passenger Carrier & Goods Carrier sales registered a growth of 8.25 percent and 6.39 percent respectively in April-December 2017 over April-December 2016, according to data released by SIAM.

Two Wheelers sales registered a growth at 11.76% in April-December 2017 over April-December 2016. Within the Two Wheelers segment, Scooters and Motorcycles grew by 18.52 percent and 9.77 percent respectively, while Mopeds declined by (-) 6.15 percent in April-December 2017 over April-December 2016.

In April-December 2017, overall automobile exports increased by 13.01 percent. Two and Three Wheelers Segments registered a growth of 17.75 percent and 30.27 percent respectively, while Passenger Vehicles and Commercial Vehicles declined by (-) 3.40 percent and (-) 18.10 percent respectively in April-December 2017 over the same period last year.

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Yash Ved
Yash Ved is a Senior Correspondent at NewsBarons and comes with a decade of experience across leading online and offline publications. A keen observer of the stock index movement, Yash also likes covering Real Estate and the BFSI sector. A financial management and Journalism student, Yash believes learning as a continuous journey and enjoys following the IT and the Pharmaceutical industry and has penned many articles on the subjects.
yash@newsbarons.com
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