February 2016 sales numbers have been released by SIAM and the team at EMMAAA has analysed the numbers in detail.
The Passenger Vehicles segment continues to face hiccups and dispatches were up by only 1.29%. However, things are even more troubling when we go deeper inside.
Passenger Car dispatches were down 4.23% on a year-on-year basis as most brands took a breather. New model launches have helped maintain volumes for the leading players but new launches have effectively cannibalised older models. This month was exceptionally bad with even market leaders – MSIL & Hyundai – taking a breather and reporting decline in dispatches.
Even more worrying, Feb 2016 had one extra day to do business.
Overall Passenger Vehicle sales were salvaged by the Utility Vehicles and Vans segments, which did well in comparison.
Things were better elsewhere. Commercial Vehicles continued to grow as per trend and even Small Trucks and Light Commercial Vehicles reported strong growth in dispatches.
The two-wheeler segment had a welcome month with Scooters delivering strong growth numbers once again. Even Motorcycles in the volume segments saw a strong uptick in sales.