HomeNDTV CarAndBike - Latest News

Passenger Vehicles Sales In India Record Slow Growth In 2018

SHARE:

The passenger vehicle segment has had its share of hits and misses in the calendar year 2018. While, sales started on a healthy note at the ...

Mahindra KUV100 Electric, Diesel AMT, And TUV300 Facelift To Be Launched By 2019
2018 Mercedes-Benz C Class Facelift: All You Need To Know
Google Maps Now Run On Apple CarPlay With iOS 12 Update

The passenger vehicle segment has had its share of hits and misses in the calendar year 2018. While, sales started on a healthy note at the start of 2018, the auto industry faced several hurdles throughout the year. The rising fuel prices in the second half also led to a drop in volumes and the festive season too didn't bring in any cheers. The industry produced a total 23,861,485 vehicles including passenger vehicles, commercial vehicles, three-wheelers, two-wheelers and quadricycle in April-December 2018 as against 21,432,030 in April-December 2017, registering a growth of 11.34 per cent over the same period last year.

The sale of passenger vehicles grew by 4.37 percent in April-December 2018 over the same period last year. Within the passenger vehicles segment, the sales of passenger cars, utility vehicle & vans grew by 4.34 percent, 2.63 percent and 12.89 percent respectively in April-December 2018 over the same period last year.

In the FY18-19 budget, the government increased the tax on CKD components to 15 per cent which led to an increase in the cost of some of the models which global players such as Honda and Skoda, among others sell. Furthermore, the industry went through several headwinds such as increase in fuel prices, poor performance by NBFCs, increase in interest rates and to top it all, customers had to pay a one-time insurance premium. Vishnu Mathur, Director General, SIAM said, "We were expecting better growth this year but we didn't expect all of these to happen. Q3 was significantly impacted due to rise in fuel prices and one time insurance payment," said Vishnu Mathur, Director General, SIAM.

In December 2018, the passenger vehicle segment recorded a negative growth of 0.43 per cent at 238, 692 units as compared to 239,723 units in the same month last year. The growth for the CY2018 (January-December) stood at 5.08 per cent at 33,94,756 units, around 2 per cent lower than what the industry body was expecting.

SIAM expects Q4 to make up for the loss to an extent, as people generally postpone their purchase decision to next year just to get the new year model in a bid to avoid depreciation. Moreover, the industry body is also expecting sales from pre-buying ahead of the implementation of the BSVI emission norms as carmakers are likely to roll out offers to clear inventories.



from NDTV CarAndBike - Latest News http://bit.ly/2FxpWj6
Name

CarandBike - Latest News,3891,NDTV CarAndBike - Latest News,4668,Web Bike World,393,webBikeWorld,826,
ltr
item
bikes: Passenger Vehicles Sales In India Record Slow Growth In 2018
Passenger Vehicles Sales In India Record Slow Growth In 2018
bikes
https://bikemotorbike.blogspot.com/2019/01/passenger-vehicles-sales-in-india.html
https://bikemotorbike.blogspot.com/
http://bikemotorbike.blogspot.com/
http://bikemotorbike.blogspot.com/2019/01/passenger-vehicles-sales-in-india.html
true
6291399089362058434
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy