Indian auto industry on the upswing
Passenger vehicles sales have increased by 20.76% between April and December 2006, reports Deepak Joshi.india Updated: Jan 10, 2007 17:37 IST
The domestic automobile industry continued to be on the upswing with passenger vehicles sales growing by 20.76 per cent in the nine months of the current financial year (April-December 2006).
The car companies sold 9,7,372 passenger vehicles in the first three quarters of the year compared to 8,09,337 units sold in April-December 2005.
Domestic passenger car sales in December 2006 was 81,026 units compared to 65,853 units in December 2005, a growth of 23 per cent, according to the latest data released by Society of Indian Automobile Manufacturers (SIAM). The growth in December sales is commendable as it bucks the usual year-end decline in the automobile industry.
In the motorcycles segment, sales grew 4.5 per cent at 4,92,288 units as against 4,71,075 units December 2005. Commercial vehicles sales during the month went up 49.6 per cent at 41,952 units as against 28,044 units in December 2005.
Motorcycles and step-through sales posted a growth of 15.81 per cent the first three quarters with overall sales touching 49,59,864 units compared to 42,82,930 units between April and December 2005. Commercial vehicles sales grew 37.15 per cent to touch 3,27,039 units as against 2,38,447 units in the three quarters of 2005-06, SIAM said.
Growth of medium and heavy commercial vehicles was 39.12 per cent with 1,92,336 units being sold in the nine months of the current financial year as against 1,38,251 units in the same period in 2005-06. Light commercial vehicles also performed well with a growth of 34.44 per cent to touch 1,34,703 units between April-December 2006.
Overall automobile exports registered 28.74 per cent growth rate in April-December 2006 over the same period last year. Passenger vehicles grew by 13.97 per cent with 1,48,781 units being sold overseas in the nine months of the current fiscal as against 1,30,545 units in the corresponding period last year.
Two-wheeler exports grew by 25.76 per cent 7,70,309 units as against 5,98,289 units between April-December 2005. Three-wheeler overseas sales touched 1,04,154 units, a growth of 83.22 per cent.