Indian vehicle sales down 8.7% in June 2017

Sales in June 2017 were down 8.7% y/y to 255,289 units versus 279,536 units in June 2016.
PVs (passenger vehicle, UV and van) sales were down 11.2% to 198,399 units. CVs (M&HCVs and LCVs) sales were up 1.4% to 56,890 units.
By vehicle type, passenger vehicle sales were down 11.2% to 136,895 units versus 154,237 units in the year previous. Utility vehicle (UVs) sales were also down 11.2% to 49,547 units. Vans sales were down 10.7% to 11,957 units.
Medium and heavy commercial vehicle (M&HCV) sales were down 6.5% to 21,175 units. Light commercial vehicle (LCVs) sales were up 6.8% to 35,715 units.
Among automakers, Maruti-Suzuki was up 1.2% and Hyundai was down 5.6%. Tata Motors was down 4.7% and Mahindra sales were up 2.3% in June 2017.
Mixed consumer sentiments in June 2017 towards the implications of GST have impacted due to passenger vehicles business sales and stock liquidation by dealers. Passenger vehicle sales are expected to grow in coming months due to discount announced by OEMs after GST roll out, new model launches and revision in fuel prices.
Sales of commercial vehicles were started to improve due to BS4 production ramp-up. 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 July 10, 2017)