MUMBAI, Feb 2: Automobile sales plummeted across various segments of the industry in the first nine months of fiscal 1997-98, led by a 36 per cent decline in the heavy commercial vehicle (HCV) segment.Only motorcycles, cars and three wheeler segments were able to register positive growth in sales in the first three quarters of this fiscal, figures released today by the Association of Indian Automobile Aanufacturers (AIAM) said.While the motorcycles segment grew by an impressive 14.84 per cent against the unimpressive figures of the industry, three-wheeler sales grew by seven per cent and passenger cars by 5.48 per cent.Sales of India's largest private sector company, Telco, declined drastically in the HCV segment in the nine months, while blue-chip Hero Honda clocked a smart 58 per cent growth in sales, AIAM said.The Rs 8,000 crore Maruti Udyog continued to have the strangle-hold in the passenger car segment and improved its marketshare to 82.58 per cent as against 81.6 per cent in the first ninemonths of the fiscal 1996-97.Bajaj Auto Ltd (BAL) saw its marketshare in scooters and motorcycles being eaten away by LML and Kinetic Honda in the scooter segment and Hero Honda and TVS in the motorcycle category. Sales in HCV segment declined by 36.71 per cent at 19,645 vehicles as against 27,877 vehicles in the corresponding period of the previous financial year (1996-97). Telco, which now enjoys only 69.8 per cent marketshare as against 73 per cent in the previous fiscal, had a drop of 39.5 per cent in HCV sales in the nine months, the figures indicated. Its rival Ashok Leyland, with a marketshare of 29.5 per cent, had to confront a drop in sales of 29.52 per cent.The light commercial vehicles segment (LCV) witnessed 4.1 per cent decline in sales.
