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SIAM: Economic downturn hits Indian auto industry

Wednesday, 12 September 2012 17:05:50 (GMT+3)   |  
       

According to the Society of Indian Automobile Manufacturers (SIAM), Indian motor vehicle production in August this year registered a decline of seven percent as compared to August 2011 with 1,564,259 vehicles produced. In the first five months of the current Indian fiscal year (started April 1, 2012), India's passenger car output rose 4.2 percent over the same period last year.

In April-August 2012, motor vehicle sales in India increased by 6.6 percent year on year, with the country's passenger car sales in April-August increasing by 7.4 percent and the commercial vehicles segment registering growth of 4.57 percent, both on year-on-year basis. However, in August Indian motor vehicle sales decreased by 3.9 percent compared to August 2011, while passenger car sales declined by over 18.5 percent year on year.

Meanwhile, in the April-August period of this year India's total motor vehicle exports decreased by 5.56 percent year on year. Passenger car exports rose by 1.3 percent and commercial vehicle exports registered an increase of 7.5 percent in the five months in question, both on year-on-year basis.

SIAM said that car exports from India fell by almost 27 percent in August 2012 compared to the same month of the previous year.


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