Auto industry continues on growth path

THE Indian Auto industry produced a total 13,701,825 vehicles including passenger vehicles, commercial vehicles, three wheelers, two-wheelers and quadricycle in April-August 2018 as against 11,962,983 in April-August 2017, registering a growth of 14.54 percent over the same period last year, as per a recent report by Society of Indian Automobile Manufacturers (SIAM).

The sale of passenger vehicles grew by 9.81 percent in April-August 2018 over the same period last year. Within the passenger vehicles, the sales for passenger cars, Utility vehicle and vans grew by 9.71 percent, 8.67 percent, and 16.05 percent respectively in April-August 2018 over the same period last year. The report states.

As per the reports, the overall commercial vehicles segment registered a growth of 41.67 percent in April-August 2018 as compared to the same period last year. Medium and heavy commercial vehicles (M&HCVs) increased by 54.92 percent and light commercial vehicles grew by 34.41 percent in April-August 2018 over the same period last year.

Three wheelers sales increased by 44.27 percent in April-August 2018 over the same period last year. Within the three-wheelers, passenger carrier sales registered a growth of 51.74 percent and goods carrier grew by 17.85 percent in April-August 2018 over April-August 2017.

Two wheelers sales registered a growth at 11.50 percent in April-August 2018 over April-August 2017. Within the two-wheelers segment, scooters, motorcycles, and mopeds grew by 6.77 percent, 14.67 percent, and 2.84 percent respectively in April-August 2018 over April-August 2017.

In April-August 2018, overall automobile exports grew by 26.96 percent. While Passenger Vehicles exports declined by 3.45 percent, Commercial vehicles, three-wheelers, and two-wheelers registered a growth of 35.64 percent, 67.57 percent, and 28.18 percent respectively in April-August 2018 over the same period last year.

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