India’s Oct car production rises by 3.24%; sales up 8.14%

SINGAPORE (ICIS)–India’s total vehicle production in October rose by 3.24% year on year to 2.37m units, with domestic sales up by 8.14% at 2.2m units, industry data showed on Thursday.

Two-wheelers accounted for 80.1% of the total production and 81.8% of overall sales, according to the Society of Indian Automobile Manufacturers (SIAM).

Production of passenger vehicles in October grew by 4.20% year on year to 323,443 units, with sales up 4.48% at 280,677 units.

The automotive industry is a major global consumer of petrochemicals which contributes more than a third of the raw material costs of an average vehicle. ICIS tracks the movement of petrochemical raw material costs in auto production both globally and regionally with the weighted ICIS Basket of Automotive Petrochemicals (IBAP).

ICIS produces a monthly Global Automotive report covering the major automotive chemicals markets, the auto-industry, the IBAPs and macroeconomic trends. For more information on the report and details on how to subscribe, please click here