New Delhi: Reflecting one of the worst months in years for the Indian auto industry, total domestic vehicle sales in September fell 9.58% with passenger vehicle sales coming down to single digit growth, despite car sales continuing to grow.
Already hit hard by rising interest rates, the industry suffered a double whammy with car exports declining by 8.25% during the month, thanks to the appreciating rupee.
The two-wheeler segment continued its dismal performance registering a 13.17% fall, while motorcycle sales skid by 18.4%.
According to figures released by Society of Indian Automobile Manufacturers (SIAM), total vehicle sales in the domestic market stood at 8,89,693 units compared to 9,83,983 units in the same month last year.
In the passenger vehicles segment, growth was down to single digit at 9.67% with sales of 1,33,320 units in September against 1,21,564 units in the corresponding year-ago period.
Car sales, however, managed to grow by 11.67% at 1,05,822 units against 94,757 units in the corresponding month a year ago on the back of market leader Maruti Suzuki India (MSI) and General Motors India (GMI) clocking good numbers despite the overall slump in the industry.
MSI posted sales of 56,322 units in September against 49,045 units last year, up 14.83%. GMI’s car sales jumped three-fold at 3,798 units against 1,284 last year.
In the two-wheeler segment sales were down to 6,79,766 units against 7,82,930 units in the year-ago period, SIAM said.
Bike sales stood at 5,48,816 units compared to 6,72,570 units in the same month last year with major players like Bajaj Auto and TVS Motor Co registering sharp fall in sales.
BAL sold 1,66,870 units during the month compared to 2,45,759 units last year, down by 32.1%. TVS’ September sales stood at 42,898 as against 99,401 last year, a decline of 56.84%.
Market leader Hero Honda, however, managed to post positive growth at 2,97,792 units against 2,83,642 units, up 4.98%.
Total three-wheeler sales during the month stood at 33,837 units against 37,121 units last year, down by 8.84%.
Domestic commercial vehicle sales were marginally up at 42,770 units compared to 42,364 units in September 2006, SIAM said.
Adding another setback to the auto industry, car exports also declined by 8.25% at 15,141 units as against 16,503 units last year.
Largest car exporter from India, Hyundai Motors managed 9,505 units in September against 10,076 units last year, down by 5.66%. Ford Motors had the biggest dip in exports at just 391 units against 2,857 units last year.
MSI, however, managed to export 4,263 units compared to 2,690 units, up 58.47%.
Overall vehicle exports, however, were up at 96,853 units compared to 89,768, up 7.89%, SIAM said.