Passenger vehicle sales rise 14% in August; snaps 9-month slide: SIAM2 min read . Updated: 12 Sep 2020, 08:29 AM IST
Positive growth in passenger vehicle sales was last recorded in October, 2019 when the segment had posted a marginal growth, snapping 11 continuous months of decline in sales.
c, industry body SIAM said on Friday.
According to the latest data by the Society of Indian Automobile Manufacturers (SIAM), passenger vehicles wholesales stood at 1,89,129 units in the same month last year.
Passenger vehicle sales have returned to positive territory in August after nine consecutive months of decline.
It was in October last year that the segment had posted a marginal growth snapping 11 continuous months of decline in sales.
Passenger car sales last month stood at 1,24,715 units as compared with 1,09,277 units, up 14.13 per cent.
Similarly, utility vehicle sales increased by 15.54 per cent to 81,842 units last month as against 70,837 units a year ago.
Sales of vans also saw an increase of 3.82 per cent at 9,359 units as compared with 9,015 units in August 2019, SIAM said.
Similarly, two-wheeler sales also rose 3 per cent at 15,59,665 units as compared to 15,14,196 units in the same month last year.
Motorcycle sales stood at 10,32,476 units as against 9,37,486 units in August 2019, up 10.13 per cent.
Scooter sales were, however, down 12.3 per cent at 4,56,848 units as against 5,20,898 units in the same month last year, SIAM said.
Three-wheeler sales also remained in slow lane last month with a massive 75.29 per cent dip in offtakes at 14,534 units as compared with 58,818 units in August 2019, it added.
"We are beginning to observe growth which is instilling confidence back into the industry, especially in the two-wheeler and the passenger vehicle segments," SIAM President Kenichi Ayukawa said.
He, however, added that the growth achieved in passenger vehicle and two-wheeler segments last month was on a low base of August 2019.
"It is to be recognised that the base figures in August 2019 itself was very low, as Industry had shown a de-growth of about 32 per cent for passenger vehicles and 22 per cent for two-wheelers in 2019, over 2018," Ayukawa noted.
Still growth in passenger vehicles and two-wheelers 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, he added.
SIAM Director General Rajesh Menon said industry is positive that the coming festive season will pave the way for a faster revival of the industry.
As per the SIAM data, leading carmaker Maruti Suzuki India (MSI) reported 21.32 increase in its wholesales last month at 1,13,033 units.
Similarly, Hyundai Motor India saw its sales increase by 19.9 per cent in August at 45,809 units as against the same month last year.
Mahindra & Mahindra offtakes rose by 1.09 per cent to 13,651 units, Kia Motors by 74.07 per cent at 10,853 units and Renault India by 41.3 per cent at 8,060 units.
In the two-wheeler segment, Hero MotoCorp wholesales increased by 8.52 per cent at 5,68,674 units while Honda Motorcycle and Scooter India offtakes increased marginally at 4,28,238 units.
Bajaj Auto saw its wholesales increase by 3 per cent at 1,78,220 units while TVS Motor Company dispatches dipped marginally at 2,18,338 units as against August 2019.
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