Two-wheeler Sales Increase 31 Percent in April, Elections could hamper Growth
According to Society of Indian Automobile Manufacturers (SIAM) data, three-wheeler sales grew by about 14.5 per cent to around 49,000 units last month. SIAM Vinod Aggarwal, President, said, “The current financial year has started well for the automobile industry. All segments of the industry have registered growth in April. Monsoon rains are expected to be above normal, policies after the Lok Sabha elections. “Continuity of the INR and the central government’s focus on manufacturing and infrastructure will drive economic growth and help in boosting the growth of the automobile sector.”
Automobile industry sales have increased by approximately 12.5 percent in the last financial year. Maruti Suzuki, one of the big car makers, has seen its sales increase by 4.7 percent to 1,68,089 units in April. The company’s passenger vehicle sales in the country stood at 1,37,952 units. It had sold 1,37,320 units in the same period last year. However, its sales have declined in the mini segment. Last month, Maruti Suzuki’s sales in the compact segment also declined to 56,953 units. In the same month last year, the company had sold 74,935 units. In this segment, the company has Baleno, Celerio, Dzire, Ignis, Swift, Tour S and WagonR. It has performed well in the utility vehicles segment. The company’s sales in this segment increased to 56,953 units. In the same month last year it was 36,754 units. Last month the company’s exports increased to 22,160 units. In the same period last year, Maruti Suzuki had exported 16,971 units.
Tata Motors estimates that demand for passenger vehicles may reduce in the first half of this financial year due to the Lok Sabha elections. The Lok Sabha elections began in mid-April and will end with vote counting in early June. Tata Motors Chief Financial Officer, PB Balaji had said that the company is waiting for the elections to be over to assess the demand.
