‘There were marked improvements witnessed across certain segments due to very good festive demand,’ says SIAM Director General Rajesh Menon
The Society of Indian Automobile Manufacturers (SIAM) on Wednesday said wholesale passenger vehicle sales, i.e. the passenger vehicles dispatched by manufacturers to the dealers, continued its upwards trend, rising 14.19% in October due to festive demand.
The double-digit growth in wholesale comes even as retails sales of passenger vehicles in October declined nearly 9% with factors such as lower discounts and supply chain-related issues dragging down demand, according to the Federation of Automobile Dealers Associations (FADA).
As per the data shared by the SIAM, passenger vehicles sales volume stood at more than 3.10 lakh units last month as against over 2.71 lakh units in October 2019. This was driven by 9.68% growth in car sales to 1.82 lakh units and 20.45% growth in utility vehicle sales to over 1.13 lakh units.
Two-wheeler sales also increased nearly 17% to over 20.53 lakh units, up from 17.57 lakh units in the same month last year. While scooter sales saw marginal growth of 1.79% to over 5.90 lakh units, motorcycle sales grew 23.80% to 13.82 lakh units.
“The month of October saw continuity in sales growth trajectory, drawing on from the previous month. There were marked improvements witnessed across certain segments due to very good festive demand…October wholesale numbers have been good on account of dealers preparing to serve demand for the upcoming Deepavali festival, which is in November this year,” Rajesh Menon, Director General, SIAM, said.
Sales of three wheelers, which includes passenger carriers and goods carriers, nosedived 60.91% to 26,187 units.
As per data released by FADA, retail passenger vehicle sales in October were down 8.80% to over 2.49 lakh units, two-wheeler sales fell 26.82% to over 10.41 lakh units, commercial vehicle sales declined 30.32% to 44,480 units and three-wheeler sales slipped 64.5% to 22,381 units. Tractor sales, however, continue to witness strong demand, growing 55% to 55,146 units.
The total retail sales across categories declined 24% to over 14.13 lakh units in October 2020.
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