Indian Auto Industry to Miss All Growth Targets in FY-13, says SIAM

Indian automotive industry which has been going through its bad phase, might not have a good 2013 as well, the Society of Indian Automobile Manufacturers (SIAM) says that released the manufacturing data of January on Monday. Auto sales in the very first month of the Year 2013, declined 12.5 per cent to 1,73,420 units, which is third consecutive drop and fifth time in last 6 months.

Production

The cumulative production data for April-January 2013 shows production growth of only 2.76 percent over the same period last year. The industry produced 1,840,858 vehicles in January 2013 as against 1,703,926 in January 2012, with growth at 8.04 percent.

Domestic Sales

The overall growth in domestic sales during April-January 2013 was 4.66 percent over the same period last year. While in January 2013, overall sales grew only by 5.31 percent over January 2012. Passenger Vehicles segment grew at 6.80 percent during April-January 2013 over same period last year. Passenger Cars declined by (-) 1.80 percent, Utility Vehicles grew by 56.87 percent and Vans grew by 2.63 percent during April-January 2013 as compared to the same period last year.

However, in January 2013 passenger car sales further declined by (-) 12.45 percent over January 2012. Total passenger vehicles sales also declined by (-) 4.62 percent in January 2013 over same month last year.

The overall Commercial Vehicles segment registered de-growth of (-) 0.37 percent in April-January 2013 as compared to the same period last year. While Medium Heavy Commercial Vehicles (MHCVs) declined by (-) 21.37 percent, Light Commercial Vehicles grew at 15.48 percent. In January 2013, MHCVs sales further declined by (-) 38.96 percent over January 2012. Three Wheelers sales grew by 5.10 percent in April-January 2013. Passenger Carriers grew by 9.07 percent during April-January 2013 and Goods Carriers registered de-growth at (-) 10.09 percent during this period.

Two Wheelers registered a growth of only 4.53 percent during April-January 2013. Scooters, mopeds and motorcycles grew by 17.76 percent, 2.44 percent and 1.43 percent respectively over same period last year. However, in January 2013 Scooters, Motorcycles and mopeds grew by 12.24 percent, 7.45 percent and 8.26 percent, respectively.

Exports

During April-January 2013, overall automobile exports registered de-growth of (-) 3.01 percent compared to the same period last year. Passenger Vehicles grew by 7.79 percent, while the other segments like Commercial Vehicles, Three Wheelers and Two Wheelers fell by (-)10.51 percent, (-) 18.97 percent and (-) 2.43 percent respectively. In January 2013 Passenger Vehicles and commercial vehicles declined by (-) 13.53 and (-) 46.94 percent respectively. While, Two Three wheelers segment grew only marginally by 1.26 percent and 1.00 percent respectively.