Auto industry aims to record 10 to 12 per cent growth during FY 2013, however commercial vehicle may witness downfall

Thursday 12 April 2012, 10:43 AM by

The Indian auto industry is currently opposed to change with its growth opportunities in the current fiscal. The industry expects to record a growth of 10 to 12 per cent for fiscal year 2013, as it was reported in fiscal 2012. However, this growth will be fairly low under the review of 26 per cent, which was seen in FY 2011 and FY 2010.

On the other hand, the Society of Indian Automobile Manufacturers (SIAM) mentioned that although the car sales will expand between 10 to 12 per cent in FY 2013, the demand of Commercial Vehicle (CV) is expected to slip by 9 to 11 per cent. However, the sales of CV in FY 2012 expanded by 18 per cent mainly because of a substantial growth in the fourth quarter of fiscal.

Vishnu Mathur, Director General, SIAM, said, “CV sales growth is cyclic and uncertainties in infrastructure projects remain. However, they may rise further than our projections if the extended JNNURM scheme is announced for bus purchases by States.” He further added that the new launches in market, especially diesel versions, will likely boost the car sales.

In addition, the larger passenger vehicle segment, including Utility Vehicles (UV) and vans, is also expected to record a growth of 10 to 12 per cent during the current fiscal. The sales in two-wheeler segment are also likely to mark an expansion ranging from 11 to 13 per cent. One of the reasons behind disruption in the sales of CV segment is that the focus of buyers has shifted towards four wheeled light CVs, like the Tata Ace.

Mathur further added, “Small car growth is still down because of the high cost of finance and low availability of diesel models in the segment. There may be a correction in the diesel-petrol prices this year.”

During the fiscal 2012, a favourable recovery in car sales was observed since January, while an unexpected growth of 20 per cent was seen in March. Growth in March helped the auto sector to spark back in 2012, as in most part of the year the sales were witnessing downfall. The overall vehicle sales were increased by 10 per cent in the month.

On the other hand, the sales in passenger vehicle segment were increased by 21 per cent, since Maruti Suzuki reported growth of 2 per cent and its rival, Hyundai reported growth of 23 per cent. In addition, the statements released by Tata Motors states that the company achieved 33 per cent.

The sales of CV rose 15 per cent, which were parallel with sales of Tata Motors. Along with Tata Motors, the overall sales of Mahindra & Mahindra increased by 13 per cent and Ashok Leyland witnessed growth of 12 per cent.Auto industry aims to record 10 to 12 per cent growth during FY 2013, however commercial vehicle may witness downfall

The Indian auto industry is currently opposed to change with its growth opportunities in the current fiscal. The industry expects to record a growth of 10 to 12 per cent for fiscal year 2013, as it was reported in fiscal 2012. However, this growth will be fairly low under the review of 26 per cent, which was seen in FY 2011 and FY 2010.

On the other hand, the Society of Indian Automobile Manufacturers (SIAM) mentioned that although the car sales will expand between 10 to 12 per cent in FY 2013, the demand of Commercial Vehicle (CV) is expected to slip by 9 to 11 per cent. However, the sales of CV in FY 2012 expanded by 18 per cent mainly because of a substantial growth in the fourth quarter of fiscal.

Vishnu Mathur, Director General, SIAM, said, “CV sales growth is cyclic and uncertainties in infrastructure projects remain. However, they may rise further than our projections if the extended JNNURM scheme is announced for bus purchases by States.” He further added that the new launches in market, especially diesel versions, will likely boost the car sales.

In addition, the larger passenger vehicle segment, including Utility Vehicles (UV) and vans, is also expected to record a growth of 10 to 12 per cent during the current fiscal. The sales in two-wheeler segment are also likely to mark an expansion ranging from 11 to 13 per cent. One of the reasons behind disruption in the sales of CV segment is that the focus of buyers has shifted towards four wheeled light CVs, like the Tata Ace.

Mathur further added, “Small car growth is still down because of the high cost of finance and low availability of diesel models in the segment. There may be a correction in the diesel-petrol prices this year.”

During the fiscal 2012, a favourable recovery in car sales was observed since January, while an unexpected growth of 20 per cent was seen in March. Growth in March helped the auto sector to spark back in 2012, as in most part of the year the sales were witnessing downfall. The overall vehicle sales were increased by 10 per cent in the month.

On the other hand, the sales in passenger vehicle segment were increased by 21 per cent, since Maruti Suzuki reported growth of 2 per cent and its rival, Hyundai reported growth of 23 per cent. In addition, the statements released by Tata Motors states that the company achieved 33 per cent.

The sales of CV rose 15 per cent, which were parallel with sales of Tata Motors. Along with Tata Motors, the overall sales of Mahindra & Mahindra increased by 13 per cent and Ashok Leyland witnessed growth of 12 per cent.

Ad
Popular Tata Cars
  • Tata Tiago
    Tata Tiago
    • 3.35 - 6 lakhs
    • Ex-showroom, Delhi
  • Tata Tigor
    Tata Tigor
    • 4.84 - 7.19 lakhs
    • Ex-showroom, Delhi
  • Tata Nano
    Tata Nano
    • 2.36 - 3.35 lakhs
    • Ex-showroom, Delhi
  • Tata Hexa
    Tata Hexa
    • 12.49 - 17.89 lakhs
    • Ex-showroom, Delhi
  • Tata Zest
    Tata Zest
    • 5.5 - 8.93 lakhs
    • Ex-showroom, Delhi
  • Tata Bolt
    Tata Bolt
    • 4.94 - 7.53 lakhs
    • Ex-showroom, Delhi
    No New Cars
Popular Cars
Upcoming Cars
Ad