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Car sales cross 18 lakh a year
Domestic passenger car sales increased by 4.99 per cent in 2014-15 and stood at 18,76,017 units from an off-take of 17,86,826 units in 2013-14, industry data showed Friday. This is the first time in three years that passenger vehicle sales have recorded positive growth. High fuel and interest costs coupled with slowdown in economic activity had dented automobile sales.
New Delhi: Domestic passenger car sales increased by 4.99 per cent in 2014-15 and stood at 18,76,017 units from an off-take of 17,86,826 units in 2013-14, industry data showed Friday. This is the first time in three years that passenger vehicle sales have recorded positive growth. High fuel and interest costs coupled with slowdown in economic activity had dented automobile sales.
According to data furnished by the Society of Indian Automobile Manufacturers (SIAM), total passenger vehicle sales, which include cars, utility vehicles and vans, went up by 3.90 per cent at 26,01,111 units from 25,03,509 units sold in the corresponding fiscal.
However, the industry data for 2014-15 reported a 2.83 per cent decline in the overall commercial vehicles segment sales, which is a key indicator of economic activity. Three-wheeler sales rose by 10.80 per cent at 5,31,927 units from 4,80,085 units sold in 2013-14. Two-wheeler sales grew by 8.09 per cent at 1,60,04,581 units from 1,48,06,778 units sold. Scooter sales in the fiscal under review were up 25.06 per cent at 45,05,529 units, while motorcycle sales were up by 2.50 per cent at 1,07,43,549 units.
