Friday, November 27News That Matters

Vehicle, SUV gross sales rev up 14% in August: SIAM

Snapping 9 months of decline, passenger automobile wholesale numbers jumped 14 per cent one year-on-one year in August to 1,24,715 objects, with the discharge of pent-up inquire of.

Gross sales of utility autos grew 16 per cent to 81,842 objects in August (from 70,837 objects in August 2019), in accordance to the latest knowledge from the Society of Indian Vehicle Manufacturers (SIAM) circulated on Friday.

Total, passenger automobile gross sales, thus, rose to 2,15,916 objects precise thru the month, up 14 per cent when put next with 1,89,129 objects in the same month final one year.

Bikes up, scooters down

In the 2-wheeler section, motorcycle gross sales grew 10 per cent YoY to 10,32,476 objects (from 9,37,486 objects). Alternatively, scooter gross sales declined 12 per cent to 4,56,848 objects (from 5,20,898 objects).

SIAM President Kenichi Ayukawa mentioned: “We’re starting up to witness enhance which is instilling self assurance support into the alternate, in particular in the 2-wheeler and the passenger automobile segments. Though the alternate witnessed a YoY enhance final month, the deplorable figures for August 2019 itself were very low, as the alternate had proven a de-enhance of about (-) 32 per cent for passenger autos and (-) 22 per cent for two-wheelers in 2019, over 2018,”

Hopes of revival

Quiet, a 14 per cent enhance in passenger autos and a 3 per cent enhance in two-wheelers in August conceal dispositions of restoration for the alternate, though it is against the backdrop of pent-up inquire of and onset of the competition season this month, Ayukawa mentioned.

SIAM Director-Long-established Rajesh Menon mentioned: “After a period of lull owing to the lockdowns, August witnessed improved gross sales of two-wheelers and passenger autos. Alternatively, the three-wheeler section persisted to put up a de-enhance of more than 75 per cent YoY. The alternate is definite that the coming competition season will pave the approach for a faster revival of the alternate.”

Read Extra