Utility vehicles buck the trend to grow nearly 57% in April 2012-Jan 2013: CMIE

CHENNAI: India's auto industry may now be stuck in first gear due to high interest rates, sluggish economic environment and frequent increases in fuel prices but there are still segments that are clocking good growth. According to a latest report by the Centre for Monitoring Indian Economy (CMIE), utility vehicle sales grew by 56.8% in the April 2012-January 2013 period. Riding on the demand for SUV and people carriers, passenger vehicles sales grew by 6.8% -- car sales in contrast was down just under 2%.

According to the CMIE report, domestic automobile sales grew by just under 5% year-on-year in the April-January period. Utility vehicles weren't the only segment to clock growth though -- van sales were up 2.6% and the entire two wheeler segment grew by 4.5%. "Sales of scooters increased by 17.8%, moped sales rose by 2.4% and motorcycle sales increased by 1.4%," said the report. The last two segments are important because they are widely taken to be the barometre of economic sentiment in the rural hinterland.

The real bad news, though, is in the commercial vehicle segment which indicates that the green shoots aren't quite as visible as the growth watchers would want them to be. "Commercial vehicles sales declined by 0.4% on account of a 21.4% fall in sales of medium & heavy commercial vehicles," said the CMIE report. "Sales of light commercial vehicles, on the other hand, grew by 15.5%."

Three wheeler sales grew 5.1% during April 2012-January 2013 on a year-on-year basis. While passenger carrier sales grew by 9.1% cent, goods carrier sales declined by 10.1%. Automobile exports fell by 3% during April 2012-January 2013. Exports of commercial vehicles fell by 10.5%, three wheelers declined 19% and two wheelers fell by 2.4%. Passenger vehicle exports, on the other hand, increased by 7.8% showing India's reputation as a manufacturing hub in that segment.

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