Domestic passenger vehicle (PV) sales grew at 19.92 per cent in September, touching highest volumes in over four-and-a-half years, led by record sales in the utility vehicles segment.
According to the data released by the Society of Indian Automobile Manufacturers (SIAM), PV sales in September stood at 2,78,428 units as against 2,32,170 units in the same month last year.
PVs in March 2012 had seen the sale of 2,95,403 units, showing year-on-year growth of about 22 per cent.
Utility vehicle sales last month saw 37.93 per cent jump to 66,851 units, from 48,467 units a year ago. Car sales, on the other hand, grew by 15.14 per cent to 1,95,259 units as against 1,69,590 units.
“The passenger vehicle numbers represent build up of inventories for the festive season. Besides, various car makers have been able to sort out capacity issues leading to supply of certain models which are in high demand,” SIAM Deputy Director General Sugato Sen told reporters here.
Buoyed by the sustained performance, SIAM expects growth in the PV segment in the current fiscal to be in the 10—13 per cent range.
“The industry is geared up for the festive season. We expect it to be better than previous years,” SIAM Director General Vishnu Mathur said.
For the April-September period of the current financial year, the PV segment grew by 12.34 per cent over the same period last fiscal. UVs rose by 40.24 per cent during the period, while passenger cars sales grew by 5.11 per cent. Demand for passenger vehicles has been driven by new models, especially in the SUV category with the likes of Maruti Vitara Brezza and Hyundai Creta clocking good numbers.
In September, market leader Maruti Suzuki India’s domestic PV sales grew by 29.41 per cent to 1,37,277 units. It had sold 1,05,236 cars as against 87,916 units in the same month last year, up 19.7 per cent. Rival Hyundai Motors India also saw its PV sales marginally at 42,605 units.