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AUTOWORLD


Demonetisation drive affects December auto sales

Demonetisation drive affects December auto sales

New Delhi, Jan 10 (UNI) The demonetisation drive and year-end impact seem to have hardly hit the vehicle sales within the domestic market as it dipped by 18.66 percent to 1221929 units in December, 2016 from 1502314 units in the same month last year. Similarly, in the same month the sale of passenger cars fell by 8.14 percent to 158617 units from 172671 units in the same month previous fiscal. The motorcycle sales also declined by 22.50 percent to 561690 units in the month under review from 724795 units in the comparable month of the previous fiscal, as per the data released by the Society of Indian Automobile Manufacturers (SIAM). \\\Aggregate two-wheeler sales were down by 22.04 percent to 9,10,235 units. Commenting on SIAM figures, Abdul Majeed, Partner - Price Waterhouse and an auto expert on SIAM sales number said, “The automotive industry in general has been impacted due to demonetisation, particularly in rural areas and regions where cash transactions are typically very high such as the North and East regions. In comparison, the West and South of India have not seen much impact and are also quickly getting back on track.” He also said, “Players with high volumes in the passenger car segment have reported a decline. OEMs with low volumes and those that are riding on the demand for new models, which involve a waiting period, are relatively less impacted and some have even reported growth.” Sales of commercial vehicles went down by 5.06 percent at 53,966 units in April. Last year in the same month, the car makers had sold 56,840 units. UNI ASH SNU 1436

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