A big surge in the sales of passenger cars and medium and heavy commercial vehicles raised domestic vehicle sales in October to 1,000,760 units up by 15.62% YoY than the 865,566 units sold in the same month last year.
According to the Society of Indian Automobile Manufacturers, this was a continuation of the double digit sales growth posted by the industry since April this year. The only exception was the month of September, when overall sales growth slowed to 7.67%.
October’s healthy sales growth for the overall automobile industry came on the back of record double-digit growth of 33% for passenger cars and 11% in the sales of two-wheelers.
Segment Oct '08 Oct '09 Change
Two wheelers 678,245 750,229 10.61
Three wheelers 33,026 39,926 20.89
Passenger vehicles 126,276 168,043 33.08
Commercial vehicles 28,019 42,562 51.9
Total 865,566 1,000,760 15.62
(Sourced from Siam)
A positive sales growth notched up by the M&HCV segment large trucks in the goods carrier segment for the third continuous month also helped the industry. This segment, which posted a positive growth of 1 and 3 per cent in August and September respectively this year, grew by a whopping 64.14 per cent in October after the industry sold a record 16,048 vehicles last month.
Total sales of commercial vehicles, including light CVs in the goods and passenger segment, grew 52% to 42,562 units last month. The increase in infrastructure spending by the government also helped sales.
(Sourced from http://www.steelguru.com/news/index/2009/11/17/MTIwNTA3/Rays_of_recovery_-_Indian_auto_sales_zoom_in_October_2009.html)
Monday, November 16, 2009
Rays of recovery - Indian auto sales zoom in October 2009
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