8.9 mn new vehicles on Indian roads
Indian automobile industry showed encouraging results registering a 13% growth in domestic sales for 2005-06.india Updated: Apr 13, 2006 16:31 IST
The Indian automobile industry showed encouraging results registering a growth of about 13 per cent in domestic sales for 2005-06 compared to the previous fiscal, with 8.9 million new vehicles.
According to the latest figures released by the Society of Indian Automobile Manufacturers (SIAM), 8,910,224 new vehicles were added to Indian roads in the just concluded fiscal as compared to 7,897,629 vehicles sold in the previous fiscal.
The total vehicle production for the fiscal touched a new high of over 10 million including 9,735,216 motor vehicles and 270,000 tractors.
Passenger vehicles posted a growth of almost eight per cent chalking up sales of 1,143,037 vehicles in 2005-06 compared to 1,061,572 vehicles in the previous fiscal.
While medium and heavy commercial vehicle sales increased by 4.5 per cent at 207,446 vehicles, light commercial vehicles sales grew by over 19 per cent to 143,237 vehicles.
Three-wheeler sales also grew by 17 per cent to 360,187 vehicles while two-wheelers sales continued their dizzying growth by almost 14 per cent at 7,056,317 vehicles.
Motorcycles accounted for a majority of these sales with 5,815,417 vehicles at 17.13 per cent, but scooter sales continued their downward trend with sales of 908,159 vehicles, which was 1.55 per cent lesser than the previous fiscal.
Due to the delayed purchases of vehicles in anticipation of the announcements in the union budget, the month of March 2006 witnessed a growth of more than 23 per cent in the passenger car sales at 110,978 vehicles as against 89,724 vehicles in the same month last year.
Bike sales for the month shot up by almost 23 per cent at 536,220 units while commercial vehicles sales also rose by over 20 per cent at 43,537 vehicles.