Motorcycles, the largest segment, grew 28.64% to 1.1 million units, while utility vehicle sales expanded 38% to 85,850 units
Car sales rose 5.13 per cent to 21,68,151 units last year as compared with 20,62,357 units in 2016
Motorcycle sales last month rose 23.25 per cent to 9,59,122 units as against 7,78,173 units a year earlier.
Automobile majors recorded flat growth despite Diwali & Dussehra- two major festivals defining October
Sales of commercial vehicles grew by just 1.44%, while three-wheelers declined almost 25%
Off take of sub-segments like utility vehicles also rose by 19%, while van sales saw a 10% jump
However, increase in raw material costs and oil prices may negatively impact sales
Major setback is witnessed in motorcycle sector as the industry saw sales dipped 22.5%
Despite slow October growth, Hyundai sells 50K units for first time
In the last financial year, 27,89,678 passenger vehicles were sold in the domestic market
High single to double digit growth likely after a wait of 5 years
The performance of Maruti Suzuki, the largest player, is also likely to be flat