Auto sales continue robust growth in August: SIAM

Auto sales continue robust growth in August: SIAM

Passenger cars saw 11.8% growth with sales of 1,98,811 units in August 2017 in comparison with 1,77,829 units sold in the same month past year.

As per the Society of Indian Automobile Manufacturers (SIAM) data, passenger cars sales increased by 11.80 per cent in August to 198,811 units from 177,829 units sold in the corresponding period of a year ago.

With the new GST cess, the taxation on mid-sized passenger cars have been nearly restored to the pre-GST levels, while taxes on luxury cars and SUVs have been slightly moderated as compared to the pre-GST rates, it said. The hikes came into effect on Monday. In July this year, the segment saw the biggest sales for 2017-18 at 86,874 units with 35.5 percent growth. "We have to see passenger vehicles sales in August in relation to demand patterns in the market in the previous two months", said Vishnu Mathur, director general at SIAM.

Sector analysts observed that after "good growth" across segments in July 2017 on back of lower GST rate as well as positive sentiments coupled with fading of demonetisation impact, the August 2017 sales reflect a mixed bag. In August 2017 alone, the industry exported a total of 3.32 lakh vehicles against the 3.10 lakh vehicles exported in August 2016, registering a growth of 7.24 per cent. The company's auto sales were at 36,639 units, up 5.5 percent, and UVs clocked 10,410 units, up 22.86 percent. The overall industry registered positive sales figures last month and the two-wheeler industry, in particular, saw double digit growth in the domestic market compared to sales in August 2016.

Homegrown utility vehicle major Mahindra & Mahindra clocked a growth of 5.91 percent in its passenger vehicle sales at 19,325 units during the month.

Passenger vehicle sales had stood at 2,58,737 units in August previous year.

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Market leader Hero MotoCorp posted 12.23 percent increase in its motorcycle sales at 5,83,852 units as against 5,20,226 units in August previous year.

Good monsoons lifted consumer sentiments in rural areas, buoying two-wheeler sales, which grew 14.69% year on year last month.

Bajaj Auto's motorcycle sales were down 1.75 percent at 1,71,664 units as against 1,74,719 units in the corresponding month past year. Sales of scooter and motorcycles grew by an impressive 18.27 per cent and 7.89 per cent respectively, while Moped sales went down by 8.6 per cent, in April-August 2017.

"Auto sales have been encouraging across segments due to post GST pricing, money in the hands of customers arising out of pay commission revision, more demand for BS-IV vehicles and good monsoon resulting in increase in rural demand".

Chennai-based TVS Motor Co sold 1,09,465 units of scooters last month as compared to 73,761 units in August a year ago, a growth of 48.4 percent. Carrying the momentum of the month-on- month growth, the overall CV segment maintained positive growth in August 2017, up by 23.22 percent with total volume of 65,310 units. In the LCV segment too, the goods carrier segment registered strong 24 percent growth whereas the passenger carrier segment continues to remain under pressure and declined by 13.15 percent.

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