Feb sales for cars up 1.39 percent, fiscal year sales down 5 percent

As per the latest sales figures released by SIAM, sales of passenger vehicles for February 2014 rose by 1.39 percent to 160,718 units as against 158,512 units in the year-earlier period. However, passenger car sales for the 11-month period ended February 2014  fell by 5.22 percent to 14,54,692 units as compared to 1534,868 units in the year-earlier period. For February alone, UV sales dropped 9 percent while vans dropped by 32 percent.

In terms of numbers, total passenger vehicles sales were 2,265,644 units as compared to 2,408,036 units in the previous 11-month period.

Overall domestic sales for April-February 2014 grew marginally by 2.68 percent over the same period last year because of growth in scooters and motorcycles sales.

In the CV segment, sales continued their decline with sales down by 26 percent. Sales of goods carriers dropped 28 percent reflecting the slowdown in the economy that has impacted movement of freight and cargo. Total CV numbers were 568,637 units

Three-wheeler sales fell by 11.33 percent in April-February 2014 over the same period last year. Passenger carriers and goods carriers declined by 13.03 percent and  3.49 percent respectively in April-February 2014 over April-February 2013.

Two-wheeler sales saw a growth of 6.11 percent during April-February 2014 over April-February 2013. Within the segment, scooters and motorcycles grew at 21.43 percent and 2.88  percent respectively, while mopeds fell by nine percent in April-February 2014 over April-February 2013. Cumulative two-wheeler sales touched 13,471,267 units.

With just one month to go, OEs will hope for a major spike in sales should customers bite the bait of discounts as well as the impact of lower excise duties. Excise duties for small cars have been reduced from 12 percent to 8 percent. SUVs will now attract an excise rate of 27 percent as against 30 percent earlier.