The auto sector of the country seems to be trapped in the first gear. The past month was nothing special for the passenger vehicle segment. Barely vehicle manufacturers have completed their sales target. The result was that the sale of cars in the domestic market was in slow motion. According to data released by the Society of Indian Automobile Manufacturers (SIAM), there has been a slight decline of 0.8% in sales of domestic passenger vehicles in May.
What do data say:
According to SIAM report, a total of 3,44,656 units of passenger cars have been sold in May, which was 3,47,492 units in the same month last year. This shows a slight decline of 0.8% in sales. Despite the decline, SIAM Director General Rajesh Menon said that even though there has been a decline in passenger vehicle segment in May, these figures are second highest compared to any month. Which shows the speed of continuous demand for passenger vehicles in the market.
Sales of vehicles in all segments in May last May:
| Passenger vehicle | 3,44,656 |
| Three -wheelers | 53,942 |
| Two -wheelers | 16,55,927 |
How is the condition of the legends?
SIAM’s data says that Maruti Suzuki India, the market leader of the PV segment, has sold a total of 1,35,962 units of cars in May. Which was 144,002 units in May last year. At the same time, Hyundai Motor India also recorded a decline, a year ago, the company had a total of 43,861 units in May as against 49,151 units. In contrast, Mahindra & Mahindra has recorded strong growth. Mahindra sold a total of 52,431 units in May, which was 43,218 units in May last year.
Two -wheeler caught speed:
While a type of passenger vehicle (PV) segment has seen a decline, the sale of two -wheelers has helped to strengthen the vehicle market. Which increased by 2.2% to 16.56 lakh units in May. A total of 10.3 lakh motorcycles have been recorded in May in May, which has been almost equal compared to last year. But the most strong growth has been seen in the sale of scooters. Scooters’ sales increased by 7.1% to 5,79,507 units in May.
The three-wheeler vehicle segment has also registered a decline of 3.3% in May. A total of 53,942 units of three -wheelers have been sold during this period. SIAM says that, even though the passenger vehicle segment has declined or the sales of some veteran players have decreased, but overall, the sales of vehicles in all segments have increased from 1.8% to 2.01 million units from a year-on-year.