Maruti, Honda drive industry growth in FY18

Minus these two companies, the rate falls to low single digits in April-May

Domestic sales of passenger vehicles (cars, vans and utility vehicles) and two-wheelers witnessed a healthy growth rate of about 12 per cent and 10 per cent, respectively, in the first two months of the financial year 2017-18. However, this is not the real growth of the industry, as it was dominated by just two companies — Maruti Suzuki in the case of passenger vehicles (PV) and Honda in two-wheelers. Both the companies are controlled by Japanese auto majors — Suzuki and Honda, respectively. 
 
If one looks at the performance of the PV industry minus Maruti Suzuki, the growth rate