PV sales in India miss 3 million mark in CY2016 by 33,363 units

Autocar Professional had on January 2, 2017, estimated the likelihood of overall PV numbers missing the 3-million mark narrowly.

Ajit Dalvi By Ajit Dalvi calendar 10 Jan 2017 Views icon4999 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp

With the Indian auto industry’s sales hitting a 16-year low in December 2016, due to the cash crunch brought about by the government’s demonetisation strategy from November 9 along with muted consumer sentiment both in rural and urban markets, a little-known fact is that the domestic passenger vehicle sector has missed hitting the 3-million units sales mark for the first time by a small margin – 33,363 units. Cumulative January-December 2016 PV sales are 2,966,637 units, a year-on-year growth of 7.01 percent.

Autocar Professional had on January 2, 2017, estimated the likelihood of overall PV numbers missing the 3-million mark narrowly. 

pv-sales-2

Will FY2017 scale a new high? 

For the first nine months of the ongoing FY2016-17 fiscal, total PV numbers add up to 2,243,525, marking a year-on-year growth of 8.59 percent. This number is 756,475 units short of the 3 million mark. Will Indian automakers be able to sell these many passenger vehicles in the next three months, till end-March 2017?

The answer may lie in some moves by the industry and the government. New models always get PV buyers excited and a couple of them are only a few days away from launch. Three days from now, Maruti Suzuki India will launch the premium Ignis urban hatchback, which has already created a buzz in the market. Powered by the same 1.2-litre K-series petrol engine as in the Swift and the Baleno, as well as the 1.3-litre DDiS diesel engine, the Ignis is feature-laden and spacious.    

pv-sales-1

Then on January 18, Tata Motors will launch its new flagship, the Hexa crossover, in five trim levels. Attractive on the outside, well appointed inside and also feature-loaded, the Hexa strikes a chord at many levels. The big Tata is a comfortable family car and the lavish use of high-grade materials delivers a sense of luxury that would certainly appeal to premium car buyers. 

February 1 could be a big day for the automotive sector as the finance minister presents Budget 2018-19. This year’s Budget is expected to come laden with SOPs both for the Indian populace and industry, as the government looks to kick-start the economy which has seen its GDP growth slow down to 7.1 percent, its slowest in the last six quarters. Watch this space for more.

Recommended:

Demonetisation hits Indian auto hard: December sales lowest in 16 years

Demonetisation to boost domestic used car market

RELATED ARTICLES
Aeris looks to ride growing demand for IoT and vehicle telematics

auther Autocar Pro News Desk calendar22 Sep 2023

Noida-based IoT and telematics solutions provider Aeris Communications, which has EV OEMs and EV fleet and service provi...

Murugappa Group's Montra Electric joins forces with Exponent Energy for 15-minute charging e-three-wheelers

auther Autocar Pro News Desk calendar21 Sep 2023

Murugappa Group’s EV brand to integrate Exponent’s proprietary battery pack e^pack into its line of electric three-wheel...

TVS announces India’s first-ever electric two-wheeler racing championship

auther Autocar Pro News Desk calendar21 Sep 2023

TVS Racing Electric One Make Championship (e-OMC) will make its debut at the fourth round of INMRC on September 29; eigh...