India's car industry shows signs of slowdown in growth

ERJ staff report (DS)

New Delhi - In the seven months to July 2012, India made 7.1 percent more vehicles than in the same period a year ago. Sales growth in the seven months was 9.34 percent

Date from the Society of Indian Automotive Manufacturers (SIAM) showed that the industry produced 1,746,840 vehicles in July 2012 as against 1,656,014 in July 2011.

Passenger Vehicles segment grew at 10.20 percent during April-July 2012 over same period last year. Passenger Cars grew by 5.55 percent, Utility Vehicles grew by 53.66 percent and Vans grew by (-12.73) percent during April-July 2012 as compared to same period last year.

The overall Commercial Vehicles segment registered growth of 4.74 percent in April-July 2012 as compared to the same period last year. While Medium & Heavy Commercial Vehicles (M&HCVs) registered negative growth at (-12.75) percent, Light Commercial Vehicles grew at 18.02 percent.

Three Wheelers sales recorded marginal growth at 0.81 percent in April-July 2012. Passenger Carriers grew by 4.93 percent during April-July 2012 and Goods Carriers registered de-growth at (-13.62) percent during this period.

Two Wheelers registered a growth of 9.75 percent during April-July 2012. Mopeds, Motorcycles and Scooters grew by 4.02 percent, 6.35 percent and 26.71 percent respectively in the period of April-July 2012.

During April-July 2012 overall automobile exports registered negative growth at (-4.03) percent. While Passenger Vehicles and Commercial Vehicles both grew by 9.14 percent. Two & Three wheelers declined by (-1.00) and (-39.23) percent respectively in April-July 2012 compared to the same period last year.

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Press release from SIAM