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Home News Indian automobile industry grows by 14.41% since FY2017

Indian automobile industry grows by 14.41% since FY2017

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March 13, 2018March 13, 2018

New Delhi, March 13, 2018

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Last updated: March 20, 2024
by and Alex Morrell is a senior correspondent at Business Insider covering Wall Street at large.

Automobile manufacturers’ apex association SIAM released their observations of the industry’s sales in the April-February period of this fiscal. According to the Society of Indian Automobile Manufacturers, the industry produced a total of 26,402,671 vehicles including passenger vehicles, commmercial vehicles, three wheelers, two wheelers and quadricycle in April-February 2018 as against 23,078,120 in April-February 2017, registering a growth of 14.41 per cent over the same period last year.

The sale of passenger vehicles grew by 8.04 per cent in April-February 2018 over the same period last year. Within the passenger vehicles, passenger cars, utility vehicles and vans grew by 3.62 per cent, 21.34 per cent and 4.25 per cent respectively in April-February 2018 over the same period last year.

The overall commercial vehicles segment grew by 19.30 per cent in April-February 2018 as compared to the same period last year. Medium & heavy commercial vehicles (M&HCVs) grew by 11.91 per cent and light commercial vehicles grew by 24.64 per cent in April-February 2018 over the same period last year.

Three wheelers sales grew by 19.11 per cent in April-February 2018 over the same period last year. Within the three wheelers, passenger carrier and goods carrier sales registered a growth of 22.36 per cent and 6.80 per cent respectively in April-February 2018 over April-February 2017.

Two wheelers sales registered a growth at 14.47 per cent in April-February 2018 over April-February 2017. Within the two wheelers segment, scooters and motorcycles grew by 21.18 per cent and 12.66 per cent respectively, while mopeds declined by 4.83 per cent in April-February 2018 over April-February 2017.

In April-February 2018, overall automobile exports increased by 15.81 percent. Two and three wheelers segments registered a growth of 20.30 per cent and 37.02 per cent respectively, while passenger vehicles and commercial vehicles declined by 1.80 per cent and 13.26 per cent respectively in April-February 2018 over the same period last year.

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