Car While commercial vehicles and passenger vehicles have maintained growth in January despite demonetisation, the two-wheeler industry, which is driven by rural economy, continues to be under pressure. While SIAM numbers are awaited, industry sources said M&HCV grew by around 1% while passenger cars sales grew in double digits. Domestic two-wheeler sales dropped by around 7% to around 12.62 lakh in January 2017 from around 13.63 lakh, a year ago.The impact was seen more on companies, which got major exposure to motorcycles. Despite two-wheeler makers reducing the down payment, the sales could not catch up.Bajaj domestic motorcycles sales dropped 15 % to 119,803 in January as compared to 140,853 units a year ago. Hero MotoCorp’s sales dropped by 13% to 487,088 units in January, 2017 from 563,348 units in January, 2016. TVS Motor sales dropped to 207,059 units in January 2017, down from 208,485 units sold in the same month a year ago, mainly due to drop in motorcycle sales, while scooter sales grew by 12 per cent.Among the top players, it was only Honda that saw growth in sales, which rose by around two per cent to 368,145 units in from 361,721 units, a year ago.Yadvinder Singh Guleria, Senior Vice President – Sales… Read full this story
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