Western Times (English) - Ahmedabad

Passenger vehicle sales to rise 9% in FY113

Date: 26/03/2018 | Edition: Ahmedabad | Page: 6 | Source: Bureau | Clip size (cm): W: 7 H: 13

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Extracted Text data: Passenger vehicle \ ales to rise 9% in FY113 New Delhi: The Society -if Indian Automobile ?Aanufacturer (SIAM) said he passenger vehicle seg-ment should be able to achieve 9% growth during the current fiscal while the expansion in other seg-vnents should be better --.han expected. All segments, including passenger vehicles and two wheelers, have been show-:IN growth, SIAM Director c:ieneral said. The only ex-ception is heavy buses, which is a major concern for us. The comments come in the backdrop of passenger vehicle sales growing at 7.7% in February. Sales of domestic passenger ve-hicles (PVs), which include cars, utility vehicles and •rans, grew to more than 1.75 lakh units in February .°rm 2.55 lakh units in the year earlier period. Tfie increase was driven mainly by a growth of 21.82% in the sales of utility vehicles to 80,254 units dur-Ig the month, according to IAM data. Car sales rose -3.7% to more than 1.79 lakh units. SIAM had forecast a yrowth of 9 per cent for PVs, 13% for commercial ye-hicles;7% for three wheelers • .1,11:1 12% for two wheelers. As.per the data released in he 11-month period form April-February 2018 PV sales rose 8% while com-mercial vehicle sales grew 19.3% three wheelers 19.11 per cent and two wheelers 14.47%. Overall, the perfor-mance of the auto sector across vehicle categories for February 2018 has been sig-nificantly strong and in line with the growth trajectory evidenced throughout the last 11 months, Sridhar V said, partner,grantThornton India. New launches post auto expo and a sector motivat-ing Budget has kept in mo-mentum,at a very high level especially with respect to commercial vehicles and two wheelers. He, however, added that the increase in customs duty on imports could im-pact those passenger ve-hicle which had high level of imported components and conversely, the decrease in duty is expected to charge up sales in high-powered two wheelers, 2017-18 is expected to end up a record year for the sector. Total two wheeler sales in February rose 23.77 per cent to more than 16.85 lakh units.While motorcycle sales rose 26.48% to more than 10.53 lakh units sales° of scooters grew 23.96% to more than 5.60 lakh units. rr—