Auto industry misses output target for FY16

Auto industry misses output target for FY16

Auto industry misses output target for FY16

The auto industry missed the target of producing 4.1 million passenger vehicles last fiscal under the Automotive Mission Plan 2006-16, although it exceeded the cumulative production target of 27.75 million units for the 10-year period by 1%.

The turnover in 2015-16, as per SIAM estimates, stood at Rs 6.01 lakh crore, which is within the target range of Rs 5.61 lakh crore and Rs 7.31 lakh crore under the Automotive Mission Plan (AMP) 2006-16.

According to SIAM, in 2015-16 actual production of passenger vehicles was at 3.4 million units, by 18% from the target of 4.1 million.

Likewise, in the two-wheelers there was a shortfall of 42% with actual production in FY16 at 18.8 million units as against a target of 32.6 million units.

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