India’s car market continues its recovery in the first quarter of the fiscal year. During the April-July 2015 period, passenger vehicles sales in India increased 7.46% year-on-year to 875,670 units, according to data from Society of Indian Automobile Manufacturers (SIAM).
Within the passenger vehicles segment, while sales of vans and utility vehicles decreased 1.43% and 0.32%, respectively, passenger car sales grew 10.68%.
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In commercial vehicles segment, sales of light commercial vehicles declined 5.24% whereas medium & heavy commercial vehicle sales increased 24.86%.
During the April-July period, exports made by the automobile industry increased 8.59%.
Overall, 7,799,546 vehicles were manufactured in the industry during the four months, reflecting a year over year growth of 1.8%.
Majeed, Partner, auto expert at Price Waterhouse, said, “OEMs who have excellent innovation, product development strategy including new launches for respective segment as well as distribution strategy including rural penetration and aftermarket sales service strategy with the customer centric approach will continue to grow in the Indian market. Light Commercial vehicles, SUVs as well as two wheelers sales will remain under pressure till we see full recovery especially in the rural economy.”
