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14
February 2018
 |
Two
wheelers (The Total Investment & Insurance
Solutions)
Domestic
vehicle sales in January 2018 grew at 31% yoy, owing to a strong show by
Utility Vehicles (UVs), two wheelers (2Ws), three wheelers (3Ws) and Commercial
Vehicles (CVs). A total of 21,17,746 vehicles were sold in India in January
2018 against 16,20,045 vehicles sold in January 2017.
Passenger Cars:
Passenger car sales took a breather, declining 1% yoy in January 2018 to 1,84,264 units. The entry level car segment has seen slightly lower number of new launches, as customers have been shifting to smaller sports utility vehicles (SUVs) and crossovers.
Utility Vehicles:
Utility vehicle sales were up 38% yoy at 85,850 units in January 2018. This was the second highest monthly sales volume for UVs. Sales were led by changing customer preference towards UVs away from passenger cars. The trend was reinstated by the large number of UV launches and proposed launches during the Auto Expo 2018. The Total Investment & Insurance Solutions
Sale of vans declined 7% yoy to 15,363 units in January 2018 after reporting 31% yoy and 19% yoy growth in December 2017 and November 2017 respectively. Industry body SIAM (Society of Indian Automobile Manufacturers) has guided for 9% yoy growth in passenger vehicles (Passenger cars + UVs + Vans) in FY18 against 7-9% guided earlier.
Two wheeler sales in January 2018 were 16,84,066 units against 12,62,141 units in January 2017. Two wheeler sales were led by pick up in rural economy and is expected to remain robust over the near term, given the huge emphasis on rural income laid in Budget 2018-19. The two wheeler segment is expected to see premiumization (shift in preference towards high engine capacity vehicles) and scooterization (shift in preference towards scooters), thereby driving its growth. Players such as TVS Motor Company and Hero MotoCorp have lined up launches in the “200cc and above” segment as seen in the Auto Expo 2018. Understandably, SIAM has increased its FY18 growth guidance for two wheelers to 12% against 11% previously.
Commercial vehicle sales continued their strong run logging 40% yoy growth in January 2018 at 85,660 units. These sales too were led by rural uptick and will continue to be strong on the back of efforts directed towards rural income growth, infrastructure spending and implementation of ban on overloading of vehicles. SIAM has significantly raised FY18 growth guidance for CVs from 4-6% earlier to 13%. The Total Investment & Insurance Solutions
Three wheelers doubled in volume to 62,543 units in January 2018 against 31,345 in January 2017. This was led by end of permit system for autorickshaws in Maharashtra and issuing of new permits in DelhiThe Total Investment & Insurance Solutions
Passenger Cars:
Passenger car sales took a breather, declining 1% yoy in January 2018 to 1,84,264 units. The entry level car segment has seen slightly lower number of new launches, as customers have been shifting to smaller sports utility vehicles (SUVs) and crossovers.
Utility Vehicles:
Utility vehicle sales were up 38% yoy at 85,850 units in January 2018. This was the second highest monthly sales volume for UVs. Sales were led by changing customer preference towards UVs away from passenger cars. The trend was reinstated by the large number of UV launches and proposed launches during the Auto Expo 2018. The Total Investment & Insurance Solutions
Sale of vans declined 7% yoy to 15,363 units in January 2018 after reporting 31% yoy and 19% yoy growth in December 2017 and November 2017 respectively. Industry body SIAM (Society of Indian Automobile Manufacturers) has guided for 9% yoy growth in passenger vehicles (Passenger cars + UVs + Vans) in FY18 against 7-9% guided earlier.
Two wheeler sales in January 2018 were 16,84,066 units against 12,62,141 units in January 2017. Two wheeler sales were led by pick up in rural economy and is expected to remain robust over the near term, given the huge emphasis on rural income laid in Budget 2018-19. The two wheeler segment is expected to see premiumization (shift in preference towards high engine capacity vehicles) and scooterization (shift in preference towards scooters), thereby driving its growth. Players such as TVS Motor Company and Hero MotoCorp have lined up launches in the “200cc and above” segment as seen in the Auto Expo 2018. Understandably, SIAM has increased its FY18 growth guidance for two wheelers to 12% against 11% previously.
Commercial vehicle sales continued their strong run logging 40% yoy growth in January 2018 at 85,660 units. These sales too were led by rural uptick and will continue to be strong on the back of efforts directed towards rural income growth, infrastructure spending and implementation of ban on overloading of vehicles. SIAM has significantly raised FY18 growth guidance for CVs from 4-6% earlier to 13%. The Total Investment & Insurance Solutions
Three wheelers doubled in volume to 62,543 units in January 2018 against 31,345 in January 2017. This was led by end of permit system for autorickshaws in Maharashtra and issuing of new permits in DelhiThe Total Investment & Insurance Solutions
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