Photo: Bloomberg

Photo: Bloomberg

June data: overall slowdown in automobile sector continues

June data: overall slowdown in automobile sector continues

The auto industry continued its slow momentum in June with single-digit volume growth, due to low growth in two-wheelers, modest volume of commercial vehicles (CVs) and fall in multi-purpose vehicles (MPVs).

Photo: Bloomberg

Inventory at dealers’ end remained higher than normal, indicating low retail sales.

The two-wheeler segment registered 6.7% year-on-year (y-o-y) growth in June led by a 19.2% y-o-y growth in scooter sales. While the motorcycle segment witnessed 4.5% growth, moped sales grew 2% y-o-y. The commercial vehicles segment witnessed a muted 8.8% y-o-y growth with 12.7% y-o-y decline in medium and heavy commercial vehicles sales.

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The passenger vehicle segment rose 13% y-o-y in June due to growth of 44% y-o-y in utility vehicles, and 11.5% in cars, while MPVs remained subdued in the month.

Edited excerpts from a report by Karvy Stock Broking. Your comments are welcome at mintmoney@livemint.com

Graphic by Ahmed Raza Khan/Mint

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