Commercial Vehicles segment registered a growth of 12.99 percent in April-June 2016 SIAM
Date: Jul 17 , 2016
New Delhi : SIAM announces better forecast for auto segment against the earlier forecast of 6-8% for the current fiscal year in the view of better outlook for the economy, good monsoon and implementation of 7th pay commission recomendations,
The industry produced a total 6,431,495 vehicles including passenger vehicles, commercial vehicles, three wheelers, two wheelers and quadricycle in April-June 2016 as against 5,755,638 in April-June 2016, registering a growth of 11.74 percent over the same period last year.
The overall Commercial Vehicles segment registered a growth of 12.99 percent in April-June 2016 as compared to the same period last year. Medium & Heavy Commercial Vehicles (M&HCVs) registered a growth at 14.49 percent and Light Commercial Vehicles grew by 11.91 percent during April-June 2016 over the same period last year.
In April-June 2016, overall automobile exports declined by (-) 9.70 percent. While Passenger Vehicles and Commercial Vehicles exports registered a growth of 12.14 percent and 7.22 percent, Three Wheelers and Two Wheelers declined by (-) 46.22 percent and (-) 8.30 percent respectively in April-June 2016 over April-June 2015.