The Indian automobile industry has started showing positive signs after sluggish sales in the past couple of years. The Society of Indian Automobile Manufacturers, in its April-June 2015 (Q1 of FY2016) review, has revealed that production of vehicles hit 4,888,226 units, which is a 1.24% increase over the 4,828,163 units of Q1 FY2015.
According to the AutoCarPro report, passenger vehicles sales saw a growth of 6.17% while utility vehicles saw a decline of 0.57%. The medium and heavy commercial vehicle segment returned to the positive track with 23.23% growth. However, light commercial vehicle segment saw a decline of 7.37%.
The sales report of July and August is also out, and the total production from April to August 2015 has reached 97,84,602 units attaining a growth rate of 1.84% when compared to the same period in 2014. Domestic sales in April-August 2015 has also marked an increase of 81,35,743 units over 80,86,168 units in the same period in 2014.
The export has seen a surge of change marking 8.60% growth. From April to August 2014, the exports units were 14,94,000 and in 2015 the number has reached 16,22,510 units. The increase in exports underlines the popular belief of India being the next biggest car manufacturing hub in Asia.
Hyundai, India's second largest car manufacturer, is one of major exporters of cars. The small cars such as Grand i10, i20 and i10 are the leading export models of Hyundai. Nissan ships the Micra and the Sunny while Ford India exports EcoSport and Figo to many foreign counties. Volkswagen Vento, which is the hot selling sedan in Mexico, is completely manufactured and shipped from India.
While the passenger car segment and commercial vehicle segment showed positive sign, two-wheeler and three-wheeler segment has seen a dip in sales. The decline in sales is predominantly from the rural sector, which was affected by the monsoon deficit all over the country. However, with the festive season coming soon and many new vehicles getting ready to be launched, the two-wheeler and three-segment can expect a positive change in sales.
