Sales Decline Show an Economic Slowdown
According to a report from SIAM, the end-of-year festive season has so far had little impact on the sliggish auto sales in India. The cumulative production data for April-November, 2012 shows a production growth of only 4.80 per cent over the same period last year. The industry produced 1,646,495 units in November, 2012 against 1,816,977 units in November 2011 which is a decline of over 9 per cent.
According to the report, the sales growth for the period of November, 2012 was just 1.79 per cent over the previous year in the same month. Passenger Vehicles segment grew at 9.62 per cent during April-November 2012 over same period last year. Passenger Cars grew marginally by 1.28 per cent, Utility Vehicles grew by 61.69 per cent and Vans grew by 1.04 per cent during April-November 2012 as compared to same period last year. However, in November 2012 passenger car sales fell by -8.25 per cent over November 2011. Total passenger vehicles sales grew by only 3.86 per cent in November 2012 over same month last year.
The overall Commercial Vehicles segment registered growth of 2.73 per cent in April-November 2012 as compared to the same period last year. While Medium Heavy Commercial Vehicles (MHCVs) registered decline at -16.34 percent, Light Commercial Vehicles grew at 16.98 per cent. In November 2012 MHCVs sales declined by -33.22 per cent over November 2011.