Economic Buzz: Domestic Passenger Vehicles Sales Soar Nearly 8% Last Fiscal

Domestic passenger vehicle sales were surged 6.38% to 3,00,722 units in March as against 2,82,698 units in the same month last year. Car sales were marginally up at 1,91,082 units last month as against 1,90,236 units in March last year, according to the data released by the Society of Indian Automobile Manufacturers (SIAM). Motorcycle sales last month jumped by 25% to 11,45,221 units compared to 9,15,259 units in March 2017. Total two-wheeler sales in March were higher by 18.35% to 17,41,649 units. Sales of commercial vehicles also spurt by 24.55% to 1,08,681 units in March. Vehicle sales across categories registered 18.23% jump to 22,23,517 units. For the fiscal ended March 31, domestic passenger vehicles sales were at 32,87,965 units as against 30,47,582 units in the previous year, up nearly 8%. Car sales for 2017-18 were at 21,73,950 units as against 21,03,847 units in 2016-17, recording a steady increase of 3.33%.