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Indian automotive industry shows signs of slowdown in July

Monday, 13 August 2012 14:38:19 (GMT+3)   |  
       

According to the Society of Indian Automobile Manufacturers (SIAM), Indian motor vehicle production in July this year registered growth of 5.5 percent as compared to July 2011 with 1,746,840 vehicles produced. In the first four months of the current Indian fiscal year (started April 1, 2012), India's passenger car output rose 7.1 percent over the same period last year.

In April-July 2012, motor vehicle sales in India increased by 9.3 percent year on year, with the country's passenger car sales in April-July increasing by 10.2 percent and the commercial vehicles segment registering growth of 4.7 percent, both on year-on-year basis.

Meanwhile, in the April-July period of this year India's total motor vehicle exports decreased by four percent year on year. Passenger and commercial vehicle exports both registered a year-on-year increase of 9.14 percent in the four months in question.
 
India's passenger car sales growth forecast for the financial year 2012-13 was revised downwards to 9-11 percent by SIAM in the previous month.


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