Apex automobile industry body, Society of Indian Automobile Manufacturers (SIAM) has released the annual production figures for 2018-19 which clearly places the commercial vehicle segment as the star performer of the just concluded fiscal.
According to the report, the industry produced a total 30,915,420 vehicles including passenger vehicles, commercial vehicles, three wheelers, two wheelers and quadricycle in April-March 2019 as against 29,094,447 in April-March 2018, registering a growth of 6.26 percent over the same period last year. However, the real growth push came from the commercial vehicles sales. The overall Commercial Vehicles segment registered a growth of 17.55 percent in April- March 2019 as compared to the same period last year. Medium & Heavy Commercial Vehicles (M&HCVs) increased by 14.66 percent and Light Commercial Vehicles grew by 19.46 percent in April-March 2019 over the same period last year.
As against this, the sale of Passenger Vehicles stood almost in a flat territory – 2.70 percent in April-March 2019 over the same period last year. Within the Passenger Vehicles, the sales of Passenger Cars, Utility Vehicle & Vans grew by 2.05 percent, 2.08 percent and 13.10 percent respectively in April-March 2019 over the same period last year.