Indian automobile sales has increased 20% during April-May 2018. A total of 73,632 vehicles sold per day in last month.
Sales rises in every segment of the Automotive industry, new launches are a big reason to boost sales. Last month tracked up with total of 22.82 lakhs vehicles sold.
According to Society of Indian Automobile Manufacturers (SIAM) report, increase in vehicle sale was 12.13 % over may 2018.
In Passenger vehicle section, a total of 3.01 lakhs vehicles sold compared to last year’s 2.51 lakhs, sales up by 19.7%. The market totally produced 53,78,591 vehicles last month.
Two-wheeler sector sales rise above 9.2% with 18.50 lakhs vehicles sold, as of last year’s 16.94 lakhs.
According to SSIAM, Commercial vehicles (CV) showed a milestone growth of about 43.1% . The section sold 76,478 units in may.
SIAM Director said
“Auto industry is well on track to post high-growth and has been performing consistently. We expect good monsoons and a strong demand from both urban and rural areas. However, the growth is not uniform across all companies especially in passenger vehicle segment.”
Utility vehicle segment nourished with a growth of 17.5% by selling 82,086 units. Total of 81,086 SUV sold.
However scooter segment showed a dip of 1.43% in sales , 5,55,467 sold against 5,63,327 last year’s may. While a total of 19,673 vans sold .
Indian manufacturers like Maruti Suzuki , Mahindra & Mahindra , Hero MotoCorp, bajaj motors and TVS shows an increase of 23.95%,1.63%, 17.46% ,23.01 % and 8.87% respectively.