Domestic passenger vehicle sales up 4.48% in October

The Dollar Business Bureau

The passenger vehicle sales in the domestic market increased by 4.48% to 2,80,677 units in the month of October this year from 2,68,630 units in the same month in 2015.

Domestic car sales were slightly increased to 1,95,036 units in October 2016 compared to 1,94,158 units in the same month last year, as per the data released by the apex Industry body, Society of Indian Automobile Manufacturers (SIAM).

The sales of motorcycle last month rose by 7.37% to 11,44,516 units compared to 10,65,925 units in the previous year.

Overall sales of two-wheeler in October grew 8.72% to 18,00,672 units against the 16,56,304 units in the corresponding month a year ago.

Commercial vehicles sales were increased by 11.9% to 65,569 units in the last month, said the industry body representing leading vehicle manufacturers.

The sales of vehicles across categories witnessed a growth of 8.14% to 22,01,571 units compared to 20,35,905 units in October last year, it added.

During the entire fiscal of 2015-16, domestic passenger vehicles sales increased by 7.24% compared to the same period last year. The total commercial vehicles segment witnessed a growth of 11.51% in the same period compared to a year earlier. 

Automakers in India welcomed November with an eagerness to project their October sale numbers. Going by the numbers that SIAM has given it is clear that the OEMs have benefitted the most due to the much improved customer sentiment with other social factors like the festive season, the diesel ban lifting by the Govt in Delhi-NCR, the much better monsoon season and the timely announcement of the Seventh Pay Commission.