ERJ staff report (DS)
New Delhi, India - Despite growth of only 4 percent in the year to date, India vehicle production grew by 15 percent in the month of October, to 1,829,490 vehicles, compared with 1,596,500 in October 2011. The data was published today by SIAM, the Society of Indian Automobile Manufacturers
Domestic sales showed the same pattern. Sales in October grew by 14.81 percent over October 2011 compared with growth of 5.26 percent in the period from April -October 2012.
In the consumer segment, utility vehicle sales grew by a massive 60 percent in the April-October period. Passenger cars grew by just 2.8 percent, while van sales declined by 0.8 percent.
However, in October 2012 passenger car sales grew by 23.09 percent over October 2011. Total passenger vehicles sales grew by 33.65 percent in October 2012 over same month last year.
The overall Commercial Vehicles segment registered growth of 4.26 percent in April-October 2012 as compared to the same period last year. While Medium & Heavy Commercial Vehicles (M&HCVs) registered negative growth at (-13.99) percent, Light Commercial Vehicles grew at 18.19 percent.
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Press release from SIAM