Indian vehicle sales up 5.7% in May 2017

[ India ]

Sales in May 2017 were up 5.7% y/y to 305,099 units versus 288,729 units in May 2016.
PVs (passenger vehicle, UV and van) sales were up 8.6% to 251,642 units. CVs (M&HCVs and LCVs) sales were down 6.4% to 53,457 units.
By vehicle type, passenger vehicle sales were up 4.8% to 166,630 units versus 158,996 units in the year previous. Utility vehicle (UVs) sales were up 18.8% to 69,845 units. Vans sales were up 9.5% to 15,167 units.
Medium and heavy commercial vehicle (M&HCV) sales were down 33.0% to 16,716 units. Light commercial vehicle (LCVs) sales were up 14.3% to 36,741 units.
Among automakers, Maruti-Suzuki was up 15.5% and Hyundai was up 1.6%. Tata Motors was down 3.3% and Mahindra sales was up 11.6% in May 2017.
Passenger vehicle sales are expected to grow in coming months due to softening of interest rates, revision in fuel prices and GST implementation.
Sales of commercial vehicles were decreased due to pre-buying in March on account of BS-IV implementation. It is expected to grow in coming months due to improved consumer sentiments, GST implementation and waning effect of demonetization.

(Based on data released by SIAM on June 9, 2017)

 

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