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Express News Service
NEW DELHI: Last year, motor vehicle sales experienced their strongest growth in almost a decade in June, up 37.54% from June 2017.
According to data published by the Indian Automobile Manufacturers Society (SIAM), sales of pbadenger cars (PV) reached 2.73,759 units last month, compared with 1.99,036 last June. This is the highest growth rate in the industry since December 2009 when domestic sales increased by 50%.
However, SIAM points out that growth was boosted by weak sales in June of last year. put aside purchases after the Goods and Services Tax (GST) rollout in July.
"People postponed their purchases last year during this period since they predicted that prices would drop after the GST rollout. Thus, the growth we are seeing this year is coming down to a low level last year, "said Vishnu Mathur, general manager of SIAM.
The new tax regime saw its sales increase by one year. just over 4.3% in June 2017.
Commercial vehicles, cars and vans, with sales up 47.11%, 34.21% and 35.64% respectively, were In the meantime, sales of commercial vehicles increased by 41.72%, while total sales of two-wheelers rose 22.28% in June.
all categories increased by 25.23% to 22.79,151 units.In the first quarter, total exports also increased 26.73% to 11.94,627 units in the first quarter. fell from 7.37% to 1.67161 units
The Deputy Director General of SIAM, Sugato Sen, also pointed out that the main challenges for the PV segment were the tightening of interest rates and rising commodity prices. ] "However, PV sales are expected to increase supported by new launches.The sales of two-wheelers will benefit from a normal monsoon and an increase in MSP.In addition, the CV segment will benefit from Government spending on infrastructure, "he added.
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