Passenger vehicle sales increase by 14.16% in August: SIAM

New Delhi: After a prolonged lull in the Automobile market, August car sales data has shown some promise, the monthly auto sales data released by Society Of Indian Automobile Manufacturers (SIAM) showed on Friday.

According to monthly wholesale auto data released by SIAM, Passenger vehicle sales increased by 14.16 percent in August to 2,15,916 units vs 1,89,129 units in August 2019.

Two-wheeler sales jumped 3 percent to 15,59,665 units, as compared to 15,14,196 units in the previous year. Motorcycle sales were up 10.13 percent, with 10,32,476 units being sold vs 9,37,486 units in August 2019 aided by a good rural and semi urban demand, SIAM sales figures showed.

Scooter and three wheeler sales witnessed decline in August. Scooter sales slipped 12.3 percent with 4,56,848 units being sold in August 2020 as against 5,20,898 units in the previous year. Total three wheeler sales slipped 75.29 percent.

Passenger car production was down 5.98 percent, total two wheeler production was minutely up 0.03 percent. Passenger car exports were down 45.17 percent, two wheeler exports were down 14.23 percent and three wheeler exports slipped 13.61 percent.

"We are beginning to observe growth which is instilling confidence back into the industry, especially in the Two-wheeler and the Passenger Vehicle segments." He further added, "Even though the industry witnessed year-on-year growth in August 2020, it is to be recognized that the base figures in August 2019 itself was very low, as Industry had shown a de-growth of about (-) 32% for Passenger Vehicles and (-) 22% for 2 Wheelers in 2019, over 2018, then. Still 14% growth of Passenger Vehicles and 3% growth in Two Wheelers in August 2020 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," Kenichi Ayukawa, President, SIAM said.

"After a period of lull owing to the COVID 19 imposed lockdowns, the month of August 2020 has witnessed improvement in the sales figures of Two-Wheelers and Passenger vehicles. However, Three-Wheeler segment continues to post a de-growth of more than (-) 75% compared to August 2019. Industry is positive that the coming festive season will pave the way for a faster revival of the industry," Rajesh Menon, Director General, SIAM said.