After creating history by
crossing the 3 million mark in domestic sales and growing 9.23%, during 2016-17
and 9.96% during March 2017, passenger vehicles have continued their growth
streak during April, starting the financial year FY’18 on a promising note.
A double digit growth has been
reported by most of the passenger vehicle manufacturers on the back of new
product launches led by utility vehicles while for two- wheeler segment growing
urbanization in cities and towns revved up the demand.
The commercial vehicle sector on the other hand witnessed a little
downfall due to the rollout of the BS-IV emission norms from 1 April 2017 which
resulted in price increase of BS-IV vehicles especially in the medium and heavy
commercial vehicle segment and buses by 8-10%.
In the passenger vehicle segment, Honda Cars India led the growth, recording the highest sales growth at 21.09% followed by market leader Maruti Suzuki India with an uptick of 13.97%.
In two-wheelers two categories
are set to drive industry growth - scooters and above250cc motorcycles. In the
two-wheeler market, all OEMs have slid in terms of growth rates in Q1FY18
compared to the same quarter last year except for Suzuki Motorcycle India and
Piaggio Vehicles.
Two Wheelers Market Share in % Q1 FY2018
The commercial vehicle segment
has seen a complete wash out with all the key players facing double digit
declines in domestic sales except for M&M and Isuzu Motors.
Commercial Vehicle Market Share in % Q1 FY2018
Another segment is the
three-wheelers with Atul Auto alone bucking the trend by turning positive at
11.54% compared to a downslide of 12.1% in Q1 FY17.
Three Wheelers Market Share in % Q1
FY2018
In addition, major commodity
prices are on the downward path, vehicle finance rates are also stabilizing
after being on the upward trajectory for a long time. The Society of Indian
Automobile Manufacturers Association of India has indicated that with the
economy moving on the growth path, an improvement is visible in the fortunes of
the automotive industry in FY18.
As ratio of Used Automotive to
that of the New One is 1:1, Used Automotive Industry is also on the road towards
growth. So if you are looking forward to acquire or dispose used vehicle or
equipment at optimal prices, visit your nearby Shriram Automall today. You can
also click the link below for convenient registration.
0 comments:
Post a Comment