Domestic car sales in Feb witnessed a decline of 26 % Y-o-Y
to 1.59 lakh units, the highest decline in 12 years, according to data released
by Society Indian Automobile Manufacturers (SIAM). Total passenger vehicle
sales (cars + utility vehicles) last month declined 17%.
Car sales in India have slumped over the last one year amid
high fuel prices and expensive loans. However, only utility vehicles have seen a
growth, which was helped by new launches.
So far this financial year (Apr-Feb), passenger car sales
are down 5 % at 17.15 lakh units, according to SIAM. On the other hand, sales
of utility vehicle have accelerated 54 % to reach nearly about 5 lakh units.
Not only have the sales of car seen the decline also medium
and heavy Commercial Vehicles (M&HCV) and two-wheelers have continued to
decline.
Over Apr-Feb, M&HCV sales are down by 23 % to 2.39 lakh
units, while LCV sales have gained 15 % to 4.70 lakh units. Total Commercial Vehicles (CV) sales in this fiscal have slipped 1.5 % to 7.08 lakh units.
In the two-wheeler segment, only scooters have witnessed
some growth last month, gaining around 3 %. However, moped sales were firm and
motorcycle sales declined by 4.5 %.
However, in the Apr-Feb period, two-wheeler sales grew 4 % to 1.63 crore units. Scooter sales gained 16 % at 26.73 lakh units, motorcycles
grew by 1 % at 93 lakh units and moped sales were up 2 % at 7.2
lakh units.
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