Passenger cars record highest sales growth in 5 years during 2015-16

Despite the slow recovery in the Indian automotive market, passenger cars speeded up the growth trajectory by posting their highest domestic sales growth in five years in percentage terms, according to the latest annual results of the Society of Indian Automobile Manufacturers of India (SIAM).

Starting from 2011-12 passenger cars reported a domestic sales growth of 2.96 percent, a negative 7.74 percent in 2012-13 followed by another negative 4.65 percent in 2013-14, 5.09 percent in 2014-15 and 7.87 percent in 2015-16. In volume terms the sales figures stood at 2,031,306 in FY’12, 1,895,471 in FY’13, 1,786,826 in FY’14, 1,876,017 ...