Indian vehicle sales up 11.2% in January 2017

Sales in January 2017 were up by 11.2% y/y to 326,559 units versus 293,600 units in January 2016. PVs (passenger vehicle, UV and van) sales were up 14.4% y/y to 265,320 units. CVs (M&HCVs and LCVs) sales were down 0.7% y/y to 61,239 units.

By vehicle types, passenger vehicle sales were up 10.8% y/y to 186,523 units versus 168,303 units in the year previous. Utility vehicle (UVs) sales were up 24.5% y/y to 62,264 units. Vans sales were up 21.6% y/y to 16,533 units.

Medium and heavy commercial vehicle (M&HCV) sales were up 0.6% y/y to 28,704 units. Light commercial vehicle (LCVs) sales were down 1.9% y/y to 32,535 units.

Among automakers, Maruti-Suzuki was up 25.9% and Hyundai was up 10.5%. Tata Motors registered flat growth and Mahindra sales were down 9% in January 2017.

Passenger and commercial vehicle sales were start improving in January 2017 due to improvement in consumer sentiments and currency situation. Passenger vehicles sales are expected to grow in coming months due to Budget announcement, and reduced inflation and interest rates. Sales of commercial vehicles are expected to increase due to pre-buying of BS III norms trucks.

(Based on data released by SIAM on February 09, 2017)