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Passenger vehicle sales in India rose by 8.63% in May,
mainly driven by strong sales of utility vehicles.
According
to data released by the Society of Indian Automobile Manufacturers (SIAM), domestic
PV sales rose to 2, 51, 642 units in May 2017 from 2, 31, 640 units in the same
month last year.
Car sales in the domestic market rose by 4.8% to 1, 66, 630
units last month as against 1, 58, 996 units in May last year.
This is up from just under 25% in the same period previous
year. In the first 10 months of this financial year, passenger vehicle sales
hit 24, 25, 911 units, up 8.13% over the year-ago period.
The UV share in the overall passenger vehicle pie remained
more or less the same for nearly a year in 2016. In April-October 2015-16, UVs
comprised just over 20% of the overall passenger vehicle sales riding on the
back of several just-launched successful products like Hyundai Creta and Maruti
Suzuki Vitara Brezza that followed.
Two years on, the segment has jumped by 700 basis points
(100 basis points = 1%) as more mass market and premium carmakers join the UV
rush. As more and more new SUV models line up for India debut the SUV share is
expected to go up around 40% of the market.
Since ratio of used passenger
vehicles to that of the new passenger vehicles is 1:1. Used passenger vehicle
segment is witnessing a robust demand as well. Shriram Automall India Limited(SAMIL) the No.1 Used Vehicle and Equipment Provider in India, through its
extensive line up is the leading service provider.
So, to acquire a used passenger
vehicle which will showcase your style, visit your nearby Automall today. You
can also click the link below and register yourself.
Link: www.samil.in
Download MySAMIL
Mobile App:
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