Indias automobile sector on recovery path for sure: SIAM
The Dollar Business Bureau | @TheDollarBiz Encouraged by strong exports and a revival in domestic sales, the Society of Indian Automobile Manufacturers (SIAM) says that India’s auto industry is on the road to a slow but sure recovery. According to SIAM, India’s automobile exports surged by around 21.3% in April-August 2014 compared to the corresponding period last year. While exports of two-wheelers grew by 29.16%, commercial vehicles and three-wheelers posted export growth rates of 16.51% and 14.53% respectively. However, exports of passenger vehicles grew by just 0.17%. Source - SIAM Sales in the domestic market also increased in April – August 2014. Sales of passenger vehicles increased 4.46%, helped by growth in passenger cars sales (5.24%) and utility vehicles sales (9.46%), while ...
Indias automobile exports surge while domestic demand remains low
The Dollar Business Bureau | @TheDollarBiz India’s automobile exports in April-July 2014 grew by a robust 23.17% compared to the same period last year, driven by exports of commercial vehicles and two-wheelers. According to the Society of Indian Automobile Manufacturers (SIAM), in April-July 2014, exports of commercial vehicles grew by around 19.78% and two-wheelers by 32.72%. Exports of other segments also grew: passenger vehicles by 3.84%, and three-wheelers by 5.27%. However, domestic sales remained low. According to SIAM, while the sales of passenger vehicles grew by 2.53% in April-July 2014 over the same period last year, sales of commercial vehicles continued to decline for the 28th month in a row in July 2014. According to SIAM domestic sales of commercial ...
