India’s Vehicle Production Grows By 14.56% In 2018

There was a huge growth in the automobile sector in former year which shows that the production increased in all the segments. Even the export and the domestic sales continued to be at its pace.

In 2018, the vehicle production of two, three and four wheelers, passenger and commercial vehicles saw a growth of 14.56%. As compared to 2017 which produced 39,61,327 units, 2018 had a growth of 2.61% i.e. 40,64,776 units of the passenger vehicle segments in which passenger cars, UVs and vans are included. In 2018, domestic sales segment produced 33,94,756 units i.e. 6.08% growth as compared to 2017 which was 32,30,614 units. In this segment, in 2018, the exports saw a decrement of 5.26% i.e. 701,157 units from 2017, which was 740,095.

The passenger vehicle segment sales were not as expected. In the first half of 2018, the sale was going good but in the second half the sales decreased due to the rising of fuel prices, increase in interest rates and one-time insurance premium which was introduced by the Government of India. Even the festive season could not help it out.

There was a growth of 36.73% i.e. 4,46,678 units in 2018 in the commercial vehicle segment including M&HCVs (medium and heavy commercial vehicles), passenger and goods carriers as compared to 2017 which was 3,26,684 units. The domestic sales increased by 22.97% i.e. 3,96,753 units in 2018 while in 2017 it was 3,21,820. Even the exports saw a growth of 14.61% i.e. 49,952 units from 2017 which was 43,583.

There was also an increment in production and sales of the LCV (Light Commercial Vehicle). By 31.53% the production of passenger and goods carriers increased to 6,63,199 units from 5,04,220 units in 2017. Domestic sales saw a growth of 27% i.e. 6,09,627 units in 2018 from the 4,68,358 in 2017 and the exports from 49,640 units in 2017, raised to 9.59% i.e. 54,400 units in 2018.

Even in the three-wheeler segment, there was a growth in production in the year 2018. The passenger and goods carrier saw an increment of 42.07% i.e. 12,47,250 units in 2018 from 2017 which was 8,77,917. Domestic sales had a growth of 32.05% i.e. 7,18,284 units in 2018 from 2017 which was 5,43,928 units. Exports had a growth of 55.96% i.e. 526,559 in 2018 from 2017 which was 337,629.

There was a growth in production, domestic sales and exports of scooters, scooterettes, motorcycles and mopeds in 2018. In this segment, the production had a growth of 14.88% i.e. 3,50,94,653 units in 2018 from 2017 which was 2,18,43,475 units. Domestic sales increased 12.84% i.e. 2,16,45,169 units in 2018 as compared to 2017 which was 1,91,82,668 units. Exports saw a growth of 22.87% i.e. 32,58,883 units in 2018 as compared to 2017 which was 26,52,273.

The quadricycles also saw growth, especially in foreign markets. Production saw growth of 209.19% i.e. 4,205 units in 2018 while in 2017 it was 1,360 units. Domestic sales in 2018 were not as expected, it was only 178 units. But the global market had a growth of 4,049 units in 2018 while in 2017 it was 1,308 units.

There was a growth of 14.56% in overall vehicle production i.e. 3,15,20,753 units in 2018 against 2,75,14,983 units in 2017. Total domestic sales saw a growth of 12.70% i.e. 2,67,63,767 units in 2018 against 2,37,47,408 units in 2017. And the exports had a growth of 20.15% of 45,95,000 units in 2018 against 2017 which had 38,24,528 units.