Automakers saw positive growth in dispatches to the dealers in August with passenger vehicle (PV) sales rising 14.2% and two-wheeler sales increasing 3%, amid expectation of better demand during festive season.<\/p>\n
As per the data from the Society of Indian Automobile Manufacturers (SIAM), domestic wholesale sales of PVs stood at more than 2.15 lakh units in August, a growth of 14.2% from the year-earlier period. Similarly, two-wheelers sales rose 3% to more than 15.59 lakh units. While motorcycle sales rose 10% to more than 10.32 lakh units, scooter sales declined 12% to about 4.56 lakh units.<\/p>\n
\u201cWe are beginning to observe growth which is instilling confidence back into the industry, especially in the two-wheeler and PV segments,\u201d said Kenichi Ayukawa, president, SIAM.<\/p>\n
He, however, addedthough the industry witnessed year-on-year growth in August, it should be noted that the base figures in August 2019 were very low, as the industry had contracted by about 32% for PVs and 22% for two-wheelers in 2019 over 2018.<\/p>\n
\u201cStill, a 14% growth of PVs and 3% in two-wheelers in this August indicates recovery trends for the Industry.\u201d<\/p>\n
The three-wheeler segment, however, continued to slide with a decline of 75% in sales to 14,534 units.<\/p>\n
Rajesh Menon, director general, SIAM, said \u201cAfter a period of lull owing to the COVID 19 imposed lockdowns, the month of August has witnessed improvement in the sales figures of two-wheelers and passenger vehicles\u2026Industry is positive that the coming festive season will pave the way for a faster revival of the industry.\u201d<\/p>\n
The retail sale in August, as per data released by automobile dealers\u2019 body FADA, continued to decline, however, pace of decline showed improvement, hinting at a recovery. While retail sales of passenger vehicles in August fell by 7.12% to over 1.78 lakh units, the two-wheeler sales declined nearly 28.71% to about 8.98 lakh units.<\/p>\n<\/div>\n