Domestic Commercial Vehicles Reported 12.99% Growth in Q1 FY 2016-17

Domestic Commercial Vehicles Reported 12.99% Growth in Q1 FY 2016-17

The segment of total commercial vehicles, including passenger carriers, LCVs, goods carriers and M&HCVs, achieved 12.99 percent growth in the first quarter of this fiscal in India. The CV industry sold a total of 1,66,966 units in the duration of April to June 2016 against 1,47,767units in the year-ago period. Sales of commercial vehicles in the domestic market increased 17% in April, 17% in May and 6% in June.

A total of 95,884 LCVs, compromising goods and passenger carriers, sold in the first quarter of this financial year, representing a growth of 11.91% against 85,681units in Q1 of FY 15-16. The segment of M&HCV represented 14.49 percent growth with the sales of 71,072 units in the April to June 2016 period, against 62.076 units in the last fiscal same period.

The CV industry also reported positive growth of 7.22 percent in the export market with the sales of 26,169 units in the Q1 of this fiscal. In the same period of fiscal 2016, the CV sales were closed at 24,397 units.

CV Domestic Sales in April to June 2016:

Segment April to June (2015) April to June (2016) %Change
LCVs 85681 95884 11.91
Passenger Carrier 14065 15710 11.70
Goods Carrier 71616 80174 11.95
M&HCVs 62076 71072 14.49
Passenger Carrier 11744 11923 1.52
Goods Carrier 50322 59149 17.52
Total Commercial Vehicles 147767 166956 12.99

Exports – CV Sales in April to June 2016:

Segment April to June (2015) April to June (2016) %Change
LCVs 16058 16759 4.37
M&HCVs 8339 9400 12.72
Total Commercial Vehicles 24397 26169 7.22

Source: Automotive

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