New Delhi, Nov 8: Despite festive season and huge rebates doled out by companies, the Indian auto industry is facing a tough time with motorcycle sales plunging by 6.7 per cent in October, while car sales continue to grow at 14.6 per cent.
The high interest rates and sluggish sentiment continued to dampen sales in October with some exceptional volume boosters coming from new launches.
However, the scooter segment improved its performance registering a 16.6 percent jump and motorcycle exports went significantly up by 41 per cent.
According to figures released by Society of Indian Automobile Manufacturers (SIAM) today, car sales grew by 14.6 per cent at 1,05,878 units against 92,389 units in the corresponding month a year ago on the back of market leader Maruti Suzuki India (MSI) and General Motors India (GMI) clocking good numbers despite the overall slump in the industry.
MSI posted sales of 55,731 units in October against 47,994 units last year, up 16.12 per cent while GMI's car sales jumped nearly three-fold at 4,370 units against 1,142 units last year.
In the two-wheeler segment, sales were down to 7,93,420 units against 8,24,182 units in the year-ago period, SIAM said.
The motorcycle sales was at 6,57,874 in comparison to 7,05,467 units during the corresponding period last year, registering 6.7 per cent decline. Major players like Bajaj Auto and TVS Motor Co registered sharp fall in sales.
Bajaj sold 2,05,004 units during the month compared to 2,23,642 units last year, down by 8.3 per cent. TVS' September sales stood at 58,594 as against 86,990 last year, a decline of 32.6 per cent.
Market leader Hero Honda, however, managed to post positive growth at 3,47,216 units against 3,45,319 units.
However, scooter sales was up 16.6 per cent to 98,752 units as against 84,680 units a year ago.
Total three-wheeler sales during the month went down marginally at 35,394 units against 35,773 units last year.
Domestic commercial vehicle sales was up 12 per cent at 43,645 units compared to 38,955 units in October 2006, SIAM said.
Medium and Heavy Commercial vehicles performed well at 23,241 units as against 22,596 units, up three per cent.
Passenger car exports was impressive at 10 per cent at 16,138 units as against 14,690 units last year.
Largest car exporter from India, Hyundai Motors exported 9,929 units in October against 7,507 units last year, up by 32.2 per cent.
Maruti managed to export 5,026 units compared to 4,182 units, up 20 per cent.
Overall passenger vehicles exports were up at 16,580 units compared to 15,077 units, up 10 per cent, SIAM said.
Motorcycle exports also witnessed 41 per cent jump at 64,882 units in October as against 45,779 units a year ago.
Bajaj Auto's exports went up 58 per cent at 43,303 units from 27,380 units while TVS's was up by 71 per cent at 9,158 units as against 5,338 units.
However, Hero Honda's exports were down 19.3 per cent to 5,707 units from 7,073 units.