" --IANS"
New Delhi, June 9 - Domestic passenger cars sales went up by 4.80 per cent last month as compared to the same period last year, industry data showed on Friday.

As per the data furnished by the Society of Indian Automobile Manufacturers (SIAM), some 166,630 passenger cars were sold in May, 2017, as compared to 158,996 units sold in May, 2016.

The off-take of other sub-segments such as utility vehicles rose by 18.80 per cent during the month with 69,845 units, while sales of vans increased by 9.50 per cent to 15,167 units.

Industry data revealed that domestic passenger vehicle sales edged higher by 8.63 per cent in May to 251,642 units from 231,640 sold during the corresponding period in 2016.

However, the data showed that overall commercial vehicles' sales declined by 6.36 per cent to 53,457 units in May. The segment is a key indicator of economic activity.

Similarly, the three-wheelers segment's off-take also receded. It declined by 22.40 per cent to 36,066 units during the month under review.

In contrast, the overall sales of two-wheelers, which include scooters, motorcycles and mopeds, was increased by 11.89 per cent to 1,694,325 units.

Product-wise, scooter sales last month rose by 24.02 per cent to 563,326 units, while motorcycle sub-segment's off-take edged-higher by 7.72 per cent to 1,060,746 units. On the other hand, mopeds segment's sales was lower by 6.83 per cent to 70,253 units.

The industry data disclosed that the Indian automobile sector reported a rise of 10.05 per cent in May 2017 -- with total sales at 2,035,490 units across segments and categories.

Moreover, the overall exports across categories increased by 8.89 per cent to 329,068 units during last month.

Besides, SIAM pointed out that the passenger cars segment will see a significant decrease in excise duty with GST (Goods and Services Tax) rollout.

The vehicle sector, the car segment particularly which was attracting very high rates of duty earlier or even today, which is a 30 per cent or 27 per cent or 24 per cent excise duty rates, we will see an overall drop in the excise burden - the taxation burden, Vishnu Mathur, Director General, SIAM told BTVi in an interview.

One can already see that because companies in expectation of GST rates, which will come from July 1, have already started reducing prices and giving discounts.



comments powered by Disqus
Read more on:

You can quote the permanent link above for a direct link to the story. We do not archive or expire our news stories.

  Email this story to a friend
  XML feed for India
All rights reserved for news content. Reproduction, storage or redistribution of Nerve content and articles in any medium is strictly prohibited.
Contact Nerve Staff for any feedback, corrections and omissions in news stories.

All rights reserved for the news content. Reproduction, storage or redistribution of Nerve content and articles in any medium is strictly prohibited.