New Delhi, October 16
Passenger vehicle wholesales in India increased by 17% in the September quarter of the current fiscal as buying sentiment improved and companies stocked up to cater to enhanced demand in the festive season, auto industry body SIAM said on Friday.
According to the latest data by the Society of Indian Automobile Manufacturers (SIAM), passenger vehicles sales in the July-September quarter increased to 7,26,232 units from 6,20,620 units in the same period last year.
Similarly, two-wheeler sales during the September quarter this fiscal rose marginally to 46,90,565 units as compared to 46,82,571 units in the same period last fiscal.
However, commercial vehicles sales saw a dip of 20.13% at 1,33,524 units in the quarter under review as compared to 1,67,173 units in July-September 2019.
It is the sixth consecutive quarter of sales degrowth in the commercial vehicle segment. Three-wheeler sales also witnessed 74.63% dip in sales during the period under review at 45,902 units as against 1,80,899 units in the year-ago period. Vehicle sales across categories during the second quarter declined marginally to 55,96,223 units as against 56,51,459 units in the same period of the previous fiscal. “In second quarter some segments have shown signs of recovery. Passenger vehicles and two-wheelers are positive, although on a very low base of previous year,” SIAM president Kenichi Ayukawa said.
He said most of the industry segments like commercial vehicles and three-wheeler offtakes remained at par or at lower state than same period 5-6 years ago. The industry, however, remained bullish on sale prospects in the festive season, Ayukawa said. “We are expecting good demand in the festive season starting tomorrow,” he added. — PTI