India's passenger vehicle sales rise 14% in August

Wednesday 16th September 2020 05:30 EDT

After nine consecutive months of decline, passenger vehicle sales in India rose by 14% in August to 215,000 units compared to 190,000 a year ago, according to latest data released by industry body Society of Indian Automobile Manufacturers (SIAM). It was in October last year that the segment had posted a marginal growth when it snapped 11 continuous months of decline in sales.

Two-wheeler sales also rose, growing by 3% to 15,60,000 compared to 15,10,000 units in the same month last year, Siam said. Motorcycle sales stood at 10,30,000 units against 940,000 units in August last year, up 10%. Scooter sales were, however, down 12% at 460,000 units against 520,000 units in the same month last year, Siam said.

Three-wheeler sales also remained in the slow lane last month with a 75% dip in offtakes at 14,534 units compared to 58,818 in August 2019.

“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, who is also the MD of Maruti Suzuki, 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 degrowth of about 32% for passenger vehicles and 22% for two-wheelers in 2019, over 2018,” Ayukawa noted.

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