Passenger vehicle sales on the fast lane in July, Maruti aids growth1 min read . Updated: 11 Aug 2015, 02:44 PM IST Sale of passenger vehicles in the domestic market grew by a robust 11.4% in July as the industry returned to a highgrowth trajectory after a temporary pause in June (down 0.54%).
Sale of passenger vehicles in the domestic market grew by a robust 11.4% in July as the industry returned to a highgrowth trajectory after a temporary pause in June (down 0.54%).
The growth was led by market leader Maruti Suzuki, which logged its highest monthly sales since March 2012 and its third highest ever in a month.
The industry tally of 222,368 units was the highest ever for July. Maruti's market share also rose to a 10-year high of 49.64%. If the category of maxi cab soft top vehicles, including Mahindra Gio, Maxximo and Tata Ace Magic, Magic Iris, which are considered as commercial vehicles, is excluded, Maruti's share rose to a near 15-year high of 50.21%.
Overall industry numbers across categories, however, grew by only 0.14%, as lower sales of motorcycles and light commercial vehicles offset the growth in cars, SUVs and scooters. Motorcycles sales have not grown in a month since October 2014, while light commercial vehicles (LCVs) have been declining since May 2013.
"There is a definite revival taking place in the passenger vehicle category. New launches and an improved sentiment is aiding that," said Vishnu Mathur, director-general, Society of Indian Automobile Manufacturers.