Indian Auto Industry Pegged a Growth of 14.41 Percent in April-February 2018

The Society of Indian Automobile Manufacturers (SIAM) has released a report on the automobiles sales in India, according to which, a total of 26,402,671 vehicles were sold during the period from April 2017 to February 2018 in India. This includes two-wheeler, three-wheeler, passenger and commercial vehicles. This is 14.41 higher as compared to 23,078,120 vehicles sold over the same period last year.

There was a positive growth in the sales of the overall automobile industry, including an 8.04 percent growth in the sale of passenger vehicles over the April 2016- February 2017 period. The sale of passenger cars grew by 3.62 percent, while at the same time, a growth of 21.34 percent and 4.25 percent was noted in the sales of utility vehicles and vans respectively.

Read Also: 812 Superfast: Ferrari's Most Powerful Sports Car Dawns Indian Roads

The overall sale of two-wheeler increased by 14.47 percent in this period, including a 21.18 percent and 12.66 percent growth in the sale of scooters and motorcycles respectively. The sale of mopeds, however, declined by 4.83 percent as compared to the same period last year.

The third-wheeler vehicles form another major automobile segment in India. This segment reported a growth of 19.11 percent in April-February 2018 over the last year. While Passenger Carriers registered a growth of 22.36 percent, Goods Carrier sales grew by 6.80 during this period.

The commercial vehicle segment also reported a growth of 19.30 percent during the period of April-February 2018. It includes an 11.91 percent growth in the sale of Medium and Heavy Commercial Vehicles (M&HCV) and 24.64 percent increase in the sale of light commercial vehicles.

Check This Full News: Top 5 Electric Cars Showcased In Geneva Motor Show 2018

The Indian auto industry also registered a growth in the exports front, with the overall automobile exports increasing by 15.81 percent as compared to the last year. The export of two and three wheeler vehicles increased by 20.30 percent and 37.02 percent respectively, whereas the export of passenger vehicles and commercial vehicles declined by 1.80 percent and 13.26 percent respectively between April 2017 and February 2018 as compared to the same period last year.

The overall industry reported a growth of 14.41 percent.