Passenger car sales grew by 27% YoY in April - Views on News from Equitymaster

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Passenger car sales grew by 27% YoY in April

May 25, 2000

As per a newspaper article, passenger car sales have grown by 27% YoY to 53,499 units in April'2000 as compared to 42,042 units sold in April'99. The companies who managed to increase their market shares are Telco, Ford, Daewoo, Hyundai and General Motors. Maruti Udyog on the other hand continued to report a decline in its market share. The other companies in the car segment which reported a decline in volumes are Mercedes Benz, Hindustan Motors and Fiat India. The main reason for poor volumes in this premium segment is due to the fact that spare parts and after sales servicing in this sector is not easily available.

The other segments which reported a growth in volumes are multi-utility vehicles, commercial vehicles, motorcycles and mopeds. Scooter volumes however continued to decline. Inspite of the motorcycle industry growing by a buoyant 30% YoY in April'2000, the two wheeler industry reported a growth of only 8.9% YoY during the same period as scooter sales decline by 1.8% YoY.

Auto Sales (nos) April'99 April'2000 % change
Passenger cars 42,042 53,499 27.3%
Commercial Vehicles 7,835 8,658 10.5%
Motorcycles 127,000 165,000 29.9%
Scooters 96,367 94,547 -1.9%

The automobile sector continues to report buoyant growth in the current financial year as per the figures given above. The main reasons for this are a pick up in the economy, lower interest rates, easy availability of finance, reduction in dealer inventories and stable freight rates.

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