Indian vehicle sales up by 8.7% in February 2017 [ India ]
Sales in February 2017 were up by 8.7% y/y to 322,298 units versus 296,603 units in February 2016. PVs (passenger vehicle, UV and van) sales were up 9.0% y/y to 255,359 units. CVs (M&HCVs and LCVs) sales were up 7.3% y/y to 66,939 units.
By vehicle types, passenger vehicle sales were up 4.9% y/y to 172,623 units versus 164,559 units in the year previous. Utility vehicle (UVs) sales were up 21.8% y/y to 65,877 units. Vans sales were up 8.1% y/y to 16,859 units.
Medium and heavy commercial vehicle (M&HCV) sales were up 5.0% y/y to 30,521 units. Light commercial vehicle (LCVs) sales were up 9.4% y/y to 36,418 units.
Among automakers, Maruti-Suzuki was up 11.7% and Hyundai was up 4.0%. Tata Motors was up 2.8% and Mahindra sales were down 1.6% in February 2017.
Passenger and commercial vehicle sales were start improving in February 2017 due to improvement in consumer sentiments and currency situation. Passenger vehicles sales are expected to grow in coming months due to improved rural sentiment, reduced inflation, new launches and interest rates.
Sales of commercial vehicles are expected to increase due to pre-buying on account of expected price increase led by BS-IV implementation, improved consumer sentiments and waning effect of demonetization.
(Based on data released by SIAM on March 10, 2017)