Truck sales fall as economy slows, cars up by 8.2 percent

India’s passenger car market recorded an eight percent increase in sales to 155,763 units from 143,851 units in June 2011. UVs recorded a significant 44 percent increase to 38,068 units, as a result of being diesel-powered. Sales of vans fell and the Eeco sold less than 1,000 units as a result of a supplier glitch.

The CV sector remains under pressure as the slowing economy has affected sales of trucks that ply on the major inter-state and intra-state routes. The LCV market, however, was buoyant with sales going up by nearly 20 percent.

In the two-wheeler segment, bike sales grew by 6.58 percent to 879,713 units while scooters rose by 22.98 percent. Weak consumer sentiments have affected sales, explains a CRISIL report. Sales in the second quarter of the current fiscal will reflect the progress of the monsoon and any favourable government policy such as a reduction in interest rates will be seen as a boost.