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Environment conducive for growth of automobile sector: SIAM (Lead)

New Delhi, Oct 9 (IANS) The Society of Indian Automobile Manufacturers (SIAM) on Monday said that the environment for the overall growth of the automobile sector “looks conducive”.

“At the moment the growth is looking good… September obviously is consequent to festive season and has good numbers, also October will have two major festivals Dhanteras and Diwali… so sales look good,” said Rajan Wadhera, Vice President, SIAM.

“Overall, the environment looks conducive for growth.”

As per the data released by the SIAM, sales of domestic passenger cars increased by 6.86 per cent in September to 208,656 units from 195,259 units sold in the corresponding period of 2016.

The off-take of other sub-segments such as utility vehicles zoomed up by 26.21 per cent during the month to 84,374 units, while sales of vans rose by 3.72 per cent to 16,925 units.

The industry data revealed that the overall domestic passenger vehicle sales edged higher by 11.32 per cent in September to 309,955 units from 278,428 units sold during the corresponding period in 2016.

The overall commercial vehicles’ sales recorded healthy growth last month. It rose 25.27 per cent to 77,195 units in September. The segment is a key indicator of economic activity.

The three-wheeler segment’s off-take increased by 19.08 per cent to 61,860 units during the month under review.

Besides three-wheelers, the overall sales of two-wheelers, which include scooters, motorcycles and mopeds, increased by 9.05 per cent to 2,041,024 units.

Similarly, the industry data showed that the Indian automobile sector’s sales rose by 10 per cent in September 2017 — with total sales at 2,490,034 units across segments and categories.

The overall exports across categories increased by 12.73 per cent to 354,049 units during last month.

Post Source: Ians feed

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