Indian Auto Industry Slowing Down

indian auto industry
Indian auto industry is facing a severe slump in sales. The sales figures for domestic and export markets are affected and as a result even production number are down when compared to figures from the same time period from last year.

Production

The cumulative production data for April-February 2013 shows production growth of only 2.18 percent over the same period last year. The industry produced 1,731,824 vehicles in February 2013 as against 1,791,795 in February 2012, which declined by (-) 3.35 percent.

Domestic Sales

The overall growth in domestic sales during April-February 2013 was 3.68 percent over the same period last year. While in February 2013, overall sales fell by (-) 5.45 percent over February 2012.

Passenger Vehicles segment grew at 4.07 percent during April-February 2013 over same period last year. Passenger Cars declined by (-) 4.64 percent, Utility Vehicles grew by 54.46 percent and Vans grew only by 1.02 percent during April-February 2013 as compared to the same period last year. However, in February 2013 passenger car sales further declined by (-) 25.71 percent over February 2012. Total passenger vehicles sales also declined by (-) 16.67 percent in February 2013 over same month last year.

The overall Commercial Vehicles segment registered de-growth of (-) 1.51 percent in April-February 2013 as compared to the same period last year. While Medium & Heavy Commercial Vehicles (M&HCVs) declined by (-) 22.79 percent, Light Commercial Vehicles grew at 14.53 percent. In February 2013, M&HCVs sales further declined by (-) 34.72 percent over February 2012.

Three Wheelers sales grew by 5.05 percent in April-February 2013. Passenger Carriers grew by 8.89 percent during April-February 2013 and Goods Carriers registered de-growth at (-) 9.64 percent during this period.

Two Wheelers registered a growth of only 3.85 percent during April-February 2013. Scooters, mopeds and motorcycles grew by 16.19 percent, 2.18 percent and 0.90 percent respectively over same period last year. However, in February 2013 only Scooters segment witnessed growth at 2.55 percent while, Motorcycles and mopeds declined by (-) 4.48 and (-) 0.25 percent respectively.

Exports

During April-February 2013, overall automobile exports registered de-growth of (-) 1.66 percent compared to the same period last year. Passenger Vehicles grew by 9.67 percent, while the other segments like Commercial Vehicles, Three Wheelers and Two Wheelers fell by (-)11.89 percent, (-) 17.66 percent and (-) 1.05 percent respectively. In February 2013 Passenger Vehicles and Two Wheelers grew by 32.05 and 14.21 percent respectively and Commercial Vehicles and Three Wheelers declined by (-) 24.30 and (-) 3.33 percent respectively.

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Article Published On: Tuesday, March 12, 2013, 10:58 [IST]
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