Economic Times stated that the Indian PV market registered 9.01% sales growth in the last month with sales of 2,55,359 units, as per the data from SIAM (Society of Indian Automobile Manufacturers). The PV segment includes utility vehicles, passenger cars and vans. With the launch of new SUVs and compact SUVs, the UV segment posted the highest sales growth of 21.79 percent and stood at 65,887 units. The segment of vans reported 8.10% growth at 16,859 units. Similarly, the passenger cars have minimum growth of 4.90% at 1,72,623 units in the country.
Coming to the other segments, the two-wheeler segment including motorcycles, mopeds and scooters reported the decline of 0.01 percent at 1,362,045 units in the last month. Mopeds and scooters sales were increased by 15.99 percent and 3.70 percent respectively. Motorcycles reported negative sales of 3.13 percent in the last month.
The CV segment has reported 7.34 percent sales growth with the sales of 66,939 units compared to 62,359 units in the year-ago month. The MHCV segment including trucks, buses, tippers, as well increased by 5.02 percent growth in February 2017. Sales of Light Commercial Vehicles have positive growth of 9.38% with sales of 36,418 units. Moreover, the segment of three wheelers declined to 35,536 units from 44,956 units in February 2016.
Slowly, the impact of demonetisation away from the automotive industry so that the most of the segments reported positive sales in the country. The automotive industry will have improvement in the next fiscal with the implementation of GST (Goods and Service Tax).