Marginal rise in car sales expected this fiscal: SIAM
Passenger car sales may see a marginal growth this fiscal after dipping for the second consecutive year, which led to loss of around 1.5 lakh jobs in the sector, the manufacturers' association said Friday.
According to Society of Indian Automobile Manufacturers (SIAM), car sales fell 4.65 percent during 2013-14 and stood at 1,786,899 units from an off-take of 1,874,055 units in the previous fiscal.
Passenger car sales declined by 6.69 percent during 2012-13, the first such off-take fall in a decade's time.
SIAM estimated that the decline in sales has led to a job loss of around 1-1.5 lakh people who were mainly employed as temporary workers across industries which are associated with automobile production.
Commercial vehicles sales, which is a key indicator of economic activity, plunged by 20.23 percent at 632,738 units from an offtake of 793,211 units in 2012-13.
However, two-wheelers sales grew by 7.31 percent to 14,805,481 units from 13,797,185 units sold in FY13.
Total vehicle sales during the last fiscal increased by 3.53 percent at 18,421,538 units from 17,793,701 units sold in 2012-13.
The data furnished by SIAM showed a decline of 5.08 percent in passenger cars sold in March, which stood at 171,489 units from 180,675 units in the corresponding period of last year.
Commercial vehicles' sales during last month fell by 24.55 percent at 64,101 units from 84,956 units sold in the like period of last year. However, two-wheeler sales in the month under review grew by 21.16 percent at 1,334,214 units from 1,101,203 units sold in March 2013.
Total vehicles sales increased by 12.83 percent at 1,677,445 units from 1,486,664 units sold in the corresponding month of last year.
(Posted on 11-04-2014)