Business

Three Wheeler Sales Rise Upto 52%, Passenger Vehicle Sale Up By 20% In May 2018 In India

NEWS WORLD INDIA | 0
1995
| June 11 , 2018 , 18:41 IST

The month of May saw a peak in the sale of three-wheelers and passenger vehicles in India. According to data released by the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle sales, last month rose to 3,01,238 units from 2,51,764 units in May 2017. The industry witnessed a rise of approximately 19.65%.

According to the data released by the organization, the three-wheeler industry witnessed a growth of around 52% from 26,746 units in 2017 to 44,185 units being sold this year. Within the three-wheeler segment, passenger carriers sales registered a growth of 64.31 percent and Goods Carrier grew by 19.34 percent in comparison to the same period last year.

The Indian automobile industry has shown substantial growth in the month of May this year as the sales have grown exponentially as compared to the same period last year.

The Indian automobile industry also manufactured the highest number of vehicles in this period compared to the same period last year. The industry produced a total of 53,78,591 vehicles including passenger vehicles, commercial vehicles, three -wheeler, two-wheeler and quadricycle in April-May 2018 as against 46,70,687 in April-May 2017, registering a growth of 15.16 percent over the same period last year.

SIAM Director General Vishnu Mathur said, “Sales were impacted last year in the same period as people projected hike in vehicle prices due to the rollout of GST. So, the growth we see in May this year is on a somewhat lower base last year.”

“Industry is well on track as far as sales growth is concerned. All segments have shown robust sales during the month.” Mathur added.