Automobile Sector Update - November 2014
Growth intact for passenger segment; CVs rebound
The auto industry continued to build on the growth trend witnessed over the last two quarters. The passenger segment viz (passenger vehicles (PV) and two-wheelers (2W) retained their double digit growth momentum, reporting 12% and 9% yoy growth respectively during November 2014. Also, the Commercial vehicle (CV) volumes recovered, reporting the first month of positive growth in the fiscal which is the key highlight of the month. Continued double digit growth in the medium and heavy commercial vehicle (MHCV) segment due to improvement in fleet utilization and moderation in decline in the light commercial vehicle (LCV) segment led to the improvement in CV sales.
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