Passenger car sales up 4.99 percent in 2014-15: SIAM

New Delhi, April 10 :Domestic passenger car sales increased by 4.99 percent in 2014-15 and stood at 1,876,017 units from an off-take of 1,786,826 units in 2013-14, industry data showed Friday.

This is the first time in three years that passenger vehicle sales have recorded positive growth. High fuel and interest costs coupled with slowdown in economic activity had dented automobile sales.

According to data furnished by Society of Indian Automobile Manufacturers (SIAM), total passenger vehicle sales, which include cars, utility vehicles and vans, went up by 3.90 percent at 2,601,111 units from 2,503,509 units sold in the corresponding fiscal.

SIAM data showed that sales of utility vehicles grew by 5.30 percent at 553,699 units, while the off-take of vans declined by 10.19 percent at 171,395 units.

However, the industry data for 2014-15 reported a 2.83 percent decline in the overall commercial vehicles segment sales, which is a key indicator of economic activity.

The commercial vehicles segment off-take stood at 614,961 units during 2014-15 from 632,851 units sold in the corresponding fiscal.

Three-wheeler sales rose by 10.80 percent in the fiscal under review at 531,927 units from 480,085 units sold in 2013-14.

Total two-wheeler sales in the period under review grew by 8.09 percent at 16,004,581 units from 14,806,778 units sold in 2013-14.

Scooter sales in the fiscal under review were up 25.06 percent at 4,505,529 units, while motorcycle sales were up by 2.50 percent at 10,743,549 units.

Exports for 2014-15 went up by 14.89 percent at 3,573,806 units from 3,110,584 units shipped out during 2013-14.

Total vehicle sales during the last financial year grew by 7.22 percent at 19,752,580 units from 18,423,223 units sold in the corresponding period of 2013-14.