Car, SUV sales rev up 14% in August: SIAM

Car, SUV sales rev up 14% in August: SIAM

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Snapping nine months of decline, passenger car wholesale numbers jumped 14 per cent year-on-year in August to 1,24,715 units, with the release of pent-up demand.

Sales of utility vehicles grew 16 per cent to 81,842 units in August (from 70,837 units in August 2019), according to the latest data from the Society of Indian Automobile Manufacturers (SIAM) circulated on Friday.

Overall, passenger vehicle sales, thus, rose to 2,15,916 units during the month, up 14 per cent compared with 1,89,129 units in the same month last year.

Bikes up, scooters down

In the two-wheeler segment, motorcycle sales grew 10 per cent YoY to 10,32,476 units (from 9,37,486 units). However, scooter sales declined 12 per cent to 4,56,848 units (from 5,20,898 units).

SIAM President Kenichi Ayukawa 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. Though the industry witnessed a YoY growth last month, the base figures for August 2019 itself were very low, as the 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,”

 

 

Hopes of revival

Still, a 14 per cent growth in passenger vehicles and a 3 per cent growth in two-wheelers in August indicate trends of recovery for the industry, though it is against the backdrop of pent-up demand and onset of the festival season this month, Ayukawa said.

SIAM Director-General Rajesh Menon said: “After a period of lull owing to the lockdowns, August witnessed improved sales of two-wheelers and passenger vehicles. However, the three-wheeler segment continued to post a de-growth of more than 75 per cent YoY. The industry is positive that the coming festival season will pave the way for a faster revival of the industry.”

 



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