Passenger Car Sales Rise 8% In February, Commercial Vehicles Outperform
Auto sales grew in February aided by strong rural demand, new product launches and low base effect from last year when demonetisation disrupted businesses.
Domestic passenger vehicle sales, which include sport utility vehicles and vans, rose 7.7 percent to 2.75 lakh units last month, according to Society of Indian Automobile Manufacturers. Local car sales grew 3.7 percent to 1.79 lakh units.
The out-performance of commercial vehicle and two-wheeler makers continued. Sales of trucks and buses jumped 31.1 percent to 87,777 units in February. Medium and heavy commercial vehicles sales rose 23 percent to 37,552 units, while light commercial vehicles sales increased 37.9 percent to 50,225 units.
Passenger car sales rises 3.7% year-on-year: SIAM February datahttps://t.co/voqnzLIxKL pic.twitter.com/YFMm8z3iH3
March 12, 2018Two-wheeler sales rose 23.8 percent to 16.85 lakh units, whereas three-wheeler sales surged 76.6 percent to 62,463 units.
Exports
Total vehicle exports rose 26 percent 3.58 lakh units, with numbers rising for all segments barring passenger vehicles. Exports of passenger vehicles declined 1 percent to 60,478 units.
“Exports remain a matter of concern as the impact of the Goods and Services Tax remains,” said Vishnu Mathur, director general of SIAM. Automobile companies are not receiving GST refunds, he added.
Three-wheeler exports rose 83.31 percent in February, while two-wheeler exports improved 29.87 percent.
Also Read: Low Base Helps Auto Sales Rise In February
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
