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 icon5287 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
PV sales in India miss 3 million mark in CY2016 by 33,363 units

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. 

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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.    

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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.

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