Indian Automobile Industry News April 2014
The start of FY 2014 looked no different for the automobile sector from previous year end. Passenger vehicles, commercial vehicles and three wheelers witnessing decline and two wheelers segment's growth pushing the automobiles sector to an overall growth of 7% in April 2014.
According to the data released by the Society of Indian Automobile Manufacturers (SIAM) the Commercial Vehicles segment witnessed the steepest decline of 24% in April 2014 in comparison to April 2013. The Light Commercial Vehicles sales dropped 27.4% while Medium & Heavy Commercial Vehicles (M&HCVs) sales dropped by 17.1%.
The decline in sales of Passenger Vehicles was 9.5% in April against the same month over previous year. This was due to the 27% decline in Vans and 10.2% decline in Passenger Cars. Utility Vehicles, however, grew slightly by 0.3%.
Three Wheelers sales witnessed the least decline of 2.2% in April 2014, with Passenger Carriers having a 2.6% decline while Goods Carriers declining by 0.5%.
Two Wheelers remained the only segment witnessing a sales growth of 11.7% in April 2014 over the same month in 2013. Within the segment, Scooters grew by 26.1% followed by Motorcycles growth at 8.1% and Mopeds growing at a marginal 0.2%.
Exports continued their growth with April 2014 seeing a 13% growth driven by growth of 24.7% and 12.7% in Two wheelers and Commercial vehicles, respectively. Within Commercial vehicles, the M&HCVs grew by an impressive 57.2% while the LCVs declined by 4.7%. The Passenger Vehicles exports were down by 0.9% while Three Wheelers declined by 22.8%.
Source: The Society of Indian Automobile Manufacturers ((SIAM)