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PV sales rise 20% in May driven by cars, UVs

Tuesday, June 12, 2018

Passenger vehicle sales in India rose by nearly 20% in May, driven by strong sales across segments, including utility vehicles, cars and vans, registering second consecutive month of robust sales.

According to data released by the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle (PV) sales last month rose to 3,01,238 units, up 19.65% from 2,51,764 units in May, 2017.

Domestic car sales were up 19.64% at 1,99,479 units as against 1,66,732 units in the same month last year. Utility vehicle (UV) sales rose 17.53% to 82,086 units, while van sales surged 29.54% t0 19,673 units during the month.

"Industry is well on track as far as sales growth is concerned. All segments have shown robust sales during the month," said SIAM Director General Vishnu Mathur.

There were various factors, including new product launches, which helped create sales momentum in the PV segment, he added.

"Sales were impacted last year in April-May period as people anticipated increase in vehicle prices due to the roll out of GST. So, the growth we see in May this year is on a somewhat lower base last year," Mathur said. Even, exports of PVs were up 3.45% at 59,648 units in May as against 57,657 units in same month last year.

In May, market leader Maruti Suzuki India reported a growth of 23.99% in its domestic PV sales at 1,61,497 units. Rival Hyundai Motor India saw a growth of 7.14% at 45,008 units.

Homegrown Mahindra & Mahindra registered a growth of 1.63% at 20,621 units, while Tata Motors saw its PV sales jump 53.63% to 19,202 units.
According to SIAM, total two-wheeler sales in May rose 9.19% to 18,50,093 units compared to 16,94,323 units in the year-ago month.

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