Indian Auto Industry Sales Report for June, 2014

Backed by a new stable government, most of the giants from passenger vehicles, commercial vehicles and two-wheelers segment reported a growth in their sales for the month of June.

The anticipated lapse of excise benefits and attractive discounts became the prime reason for a robust sale of passenger vehicles. The commercial vehicle segment stood at larger reforms and bigger infrastructure anticipated from the upcoming union budget for its growth.

Check out the table below for an insight on the sales report of all the three segments.

Auto Industry seeks incentives on tax from Government

After facing a tough time from many months, the automobile industry is asking government to make the taxation structure uniform and take away the uneven excise duties on passenger vehicles.

At present the excise duty on automobiles range from 12% to 30% while it is 12% on commercial vehicles. The government has already been asked to cut the excise duty on CV to 8%.

Suggested Readings for news:

INDUSTRIAL SLOWDOWN TO PUT ADDITIONAL STRESS ON CV LOANS

Auto Industry Review

The domestic sales during April-December 2013 grew slightly by 2.30% over the same period last year due to growth in two wheelers sales. In December 2013, the Auto Industry registered a growth of 2.15% by producing 1,734,593 vehicles.