India vehicle sales surge in May
Passenger vehicle sales surge 20% y/y in India, CV volumes up 43% y/y during May
IHS Markit perspective
- Implications: May sales results have been consistent with the trend witnessed in the first quarter and posted 20% year-on-year (y/y) growth in passenger vehicles to 301,238 units and 43% y/y growth in commercial vehicles to 76,478 units.
- Outlook: For 2018, IHS Markit expects car sales to remain at high levels and witness double-digit growth. According to our data, Indian light-vehicle sales, including passenger vehicles and LCVs, is now projected to grow 10.3% y/y to 4.07 million units in 2018, while medium and heavy commercial vehicle (MHCV) sales will grow by 9.2% y/y to 380,765 units.
Passenger vehicle sales grew 19.7% year on year (y/y) in India during May, according to data released by the Society of Indian Automobile Manufacturers (SIAM). Automakers in the country shipped a total of 301,238 passenger vehicles in the fifth month of calendar year 2018 with robust growth coming from all three segments: cars, utility vehicles, and vans. The largest category of the three segments, cars registered 19.6% y/y growth during the month to 199,479 units, followed by utility vehicles, which saw an increase of 17.5% y/y to 82,086 units. A total of 19,673 vans were sold during the month, up 29.5% y/y. Over the year to date (YTD), passenger vehicle sales were up 9.6% y/y to over 1.46 million units.
Sales of commercial vehicle (CV) witnessed another solid month in May with volumes totalling 76,478 units. This represents growth of 43.1% y/y, led by surge in medium and heavy commercial vehicles (MHCVs) to 30,128 units, up 80.2% y/y. Light commercial vehicles (LCVs) also witnessed significant growth of 26.2% y/y to 46,350 units. CV shipments during the YTD period were up 39% y/y to 431,589 units.
Total industry volume (TIV) during May expanded 23.8% y/y to 377,716 units. In the YTD, automakers shipped a combined 1.89 million passenger PVs and CVs. SIAM's figures represent automakers' dispatches to their dealers, rather than retail sales.
Read the full article
The above article is an excerpt from AutoIntelligence Daily by IHS Markit. AutoIntelligence Daily provides same-day analysis of automotive news, events and trends. Get a free trial and read the full article including outlook and implications.
- AutoMobility LA Previews Continue
- AutoMobility LA 2019: Automakers focus on electrification, utility vehicles
- California tightens availability of EV credits
- EU expects to avoid US tariffs on cars
- Sales of electrically chargeable vehicles in EU grow 51.8%
- Japan looking to subsidise compact BEVs
- The UK passenger car market went into retreat again in October, falling by 6.7% year on year
- UK government considering green number plates to identify zero-emission vehicles
Press previews at the 2019 AutoMobility LA convention and auto show this week have included several reveals of auto… https://t.co/rZ9aqPaT20