Automobile industry clocks 20 percent growth in Q1
Tuesday, 11 July 2006, 19:30 IST
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NEW DELHI: India's automobile exports witnessed a robust 27.32 growth during the April-June quarter that saw the industry record an overall 19.96 percent rise in sales as compared to the same period last year. "Overall the automobile industry witnessed a growth of 19.96 percent in April-June quarter as compared to the corresponding period in 2005," data released Tuesday by the Society of Indian Automobile Manufacturers (SIAM) said. "Automobile exports registered 27.32 percent growth rate in the first quarter of the year 2006-07 over the same period last year." In a break-up of exports, SIAM states that commercial vehicles led with 37.65 percent growth while passenger vehicles sales overseas grew at 28.66 percent, and two wheelers by 22 percent. All was not rosy on the export front with demand for scooters dipping 42.89 percent and mopeds by 16.65 percent. In the domestic market, the cumulative growth of different types of passenger vehicles was 20.40 percent with passenger car recording higher demand of 23.72 percent while utility vehicles registered a lower sales growth of 7.81 percent during the first quarter. In the two-wheeler category there was overall 18.50 percent growth registered with motorcycles demand rising by 22.76 percent and mopeds around 2 percent while scooters sales dipped by about 1 percent, which is marginal compared to drop in overseas demand. In the commercial vehicles segment, the three-wheelers' sales grew at 25.45 percent, goods carriers by 23.04 percent and passenger carrier by 27.15 percent during the April-June quarter over the same period last year. Overall the commercial vehicles segment grew at 47.18 percent, with medium and heavy commercial vehicle registering 52.27 percent rise in demand while light commercial vehicles also performed well with a growth of 39.84 percent, the data showed.
Source: IANS
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