Passenger vehicle sales in India rise 14% in August, says SIAM

at 4:07 pm
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New Delhi (NVI): The total domestic sales of the passenger vehicles increased by 14.16 per cent and two-wheeler sales rose by 3 per cent in August, after a period of lull owing to the nationwide lockdown, the Society of Indian Automobile Manufacturers (SIAM) said.

According to the data released by the SIAM, the sales of passenger vehicles in the domestic market stood at 2,15,916 units in August 2020, a growth of 14.16 per cent from 1,89,129 units in same month last year.

On the other hand, two-wheeler sales rose 3 per cent to 15,59,665 units, as compared to 15,14,196 units in the previous year.

Motorcycle sales were up 10.13 per cent, 10,32,476 units against 9,37,486 units in August last year aided by a good rural and semi urban demand, the SIAM figures showed.

Kenichi Ayukawa, President at SIAM said, “We are beginning to observe growth which is instilling confidence back into the industry, especially in the Two-wheeler and the Passenger Vehicle segments.”

He further added, “Even though the industry witnessed year-on-year growth in August 2020, it is to be recognized that the base figures in August 2019 itself was very low.”

“Still 14 per cent growth of Passenger vehicles and 3 per cent growth in two wheelers in August 2020 indicates trends of recovery for the Industry, though it is on the backdrop of pent-up demand and beginning of a festive season this month,” Ayukawa said.

Meanwhile, scooter sales and three-wheeler sales witnessed decline in August. Scooter sales slipped to 12.3 per cent from 4,56,848 units sold in August 2020 as against 5,20,898 units in the previous year, as per the SIAM data.

The three-wheeler sales, however, slipped 75.29 per cent. On the production front, Passenger car production was down 5.98 per cent, total two-wheeler production was minutely up 0.03 per cent.

On the export front, Passenger car exports were down 45.17 per cent, two-wheeler exports were down 14.23 per cent and three-wheeler exports slipped 13.61 per cent. However, the passenger vehicle numbers (domestic sales, production and exports) do not include wholesale figures of BMW, Mercedes, Tata Motors and Volvo Auto.

Rajesh Menon, Director General at SIAM said, “Industry is positive that the coming festive season will pave the way for a faster revival of the industry.”