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9
December 2016
Sales of passenger cars rose 0.29 per
cent in November to 173,606 units from 173,111 units in the corresponding month
last year, industry data showed on Thursday.
The passenger car sales had risen 0.45
per cent in October to 195,036 units.
The utility vehicles' off-take surged in
the month under review by 10.07 per cent to 53,800 units, whereas van sales
were down 7.50 per cent to 13,573 units.
According to the Society of Indian
Automobile Manufacturers (SIAM), the total passenger vehicle sales, which
includes cars, utility vehicles and vans, rose by just 1.82 per cent to 240,979
units last month.
The total passenger vehicle sales in
October rose by 4.48 per cent to 280,677 units last month.
The industry data revealed that sales of
overall commercial vehicles decreased by 11.58 per cent. The segment is a key
indicator of economic activity. The
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The commercial vehicles segment's
off-take for November 2016 was 45,773 units.
Three-wheelers sales logged decline by
25.90 per cent to 33,662 units last month.
Overall, sales of two-wheelers, which
include scooters, motorcycles and mopeds, declined by 5.85 per cent to
1,243,251 units. The Total Investment
& Insurance Solutions
Product-wise, scooter sales in the month
under review slipped by 1.85 per cent to 388,692 units, while the motorcycle
sub-segment sales logged a decline of 10.21 per cent to 778,178 units.
Besides, mopeds' off-take zoomed by
32.07 per cent to 76,381 units.
Nevertheless, the overall exports across
categories rose a tad by 3.42 per cent to 285,462 units which were shipped out
during last month. The Total Investment
& Insurance Solutions
Total automobile sales in November were
lower by 5.48 per cent to 1,563,665 units.
According to experts, demonetisation has
had a significant negative impact on the November automobile sales across all
segments. The Total Investment &
Insurance Solutions
"Demonetisation has impacted the
sales of vehicles across segments, significantly on the sales of commercial
vehicles, two wheelers and large SUVs. The sales figures of November do not
reflect this as it is inclusive of the sales from OEM (original equipment
manufacturer) to dealers," said Abdul Majeed, Partner- Price Waterhouse. The Total Investment & Insurance
Solutions
"However, the negative impact in
retail sales will be seen in the coming months and the two wheelers, commercial
vehicles and SUVs will see a significant de-growth in the short term."
Majeed noted that OEMs have been using
several instruments to support sales like 'fully financing of vehicles
purchase' and providing 'discounts', but these are not sufficient to boost the
customer sentiments.
As per Sridhar V, Partner, Grant
Thornton India, the performance over the next couple of months would reveal the
actual impact of demonetisation. The
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"The expected rate cut also did not
happen and could prolong the pain for the short term. However, the cumulative
growth in the current year is close to 12.5 per cent across segments for
April-Nov 2016 with only the sales of M&HCV is in the red currently,"
Sridhar said.
"One should expect the OEM and
dealers to find innovative means to arrest the slide, since most other factors
enabling growth remain the same."The
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