The Indian auto industry has grown for the third consecutive month this financial year with an increase in vehicle sales across all categories from scooters to heavy commercial vehicles.
In the first quarter of the ongoing financial period between April and June 2018, the Indian auto industry saw total sales of 6,962,612 units, growing at 18.01%. The industry sold only 5,882,912 units in the first quarter of the last financial year, the Financial Express reported.
However, this growth comes from a lower base last year which saw a slump in vehicle sales in anticipation of the roll out of the Goods and Services Tax (GST) and for the shift to BS-IV emission norms for commercial vehicles and motorcycles. But there is a clear positive sentiment in buying new vehicles, which has been backed by new product launches.
The total sales of passenger vehicles, including cars, sports utility vehicles (SUV) and vans, stood at 8,73,501 units at a growth rate of 19.91%. Car sales contributed more than 583,000 units, SUV sales were 234,000 and van sales were 55,078 units. Maruti Suzuki India dominated the car sales in India by selling more than 458,000 units in India in the first quarter.
Broken down, sales of two-wheeled vehicles in India totaled 5,677,343 in the first quarter. Motorcycle sales grew 19.47% from a lower base in the last quarter and 365,100 units were sold. Scooter sales in the April-June period reported double-digit growth. More than 1,818,000 scooters were sold, registering growth of more than 10%.
With GST and emission woes behind them, Commercial Vehicle manufacturers recorded a growth of more than 51%. This quarter they sold 230,000 commercial vehicles, as against 151,000 units last year.