New Delhi: After a protracted lull within the Vehicle market, August automotive gross sales information has proven some promise, the month-to-month auto gross sales information launched by Society Of Indian Vehicle Producers (SIAM) confirmed on Friday.
In accordance with month-to-month wholesale auto information launched by SIAM, Passenger car gross sales elevated by 14.16 p.c in August to 2,15,916 models vs 1,89,129 models in August 2019.
Two-wheeler gross sales jumped three p.c to 15,59,665 models, as in comparison with 15,14,196 models within the earlier yr. Bike gross sales have been up 10.13 p.c, with 10,32,476 models being offered vs 9,37,486 models in August 2019 aided by a very good rural and semi city demand, SIAM gross sales figures confirmed.
Scooter and three wheeler gross sales witnessed decline in August. Scooter gross sales slipped 12.three p.c with 4,56,848 models being offered in August 2020 as towards 5,20,898 models within the earlier yr. Complete three wheeler gross sales slipped 75.29 p.c.
Passenger automotive manufacturing was down 5.98 p.c, whole two wheeler manufacturing was minutely up 0.03 p.c. Passenger automotive exports have been down 45.17 p.c, two wheeler exports have been down 14.23 p.c and three wheeler exports slipped 13.61 p.c.
“We’re starting to look at progress which is instilling confidence again into the trade, particularly within the Two-wheeler and the Passenger Automobile segments.” He additional added, “Despite the fact that the trade witnessed year-on-year progress in August 2020, it’s to be acknowledged that the bottom figures in August 2019 itself was very low, as Trade had proven a de-growth of about (-) 32% for Passenger Automobiles and (-) 22% for two Wheelers in 2019, over 2018, then. Nonetheless 14% progress of Passenger Automobiles and three% progress in Two Wheelers in August 2020 signifies traits of restoration for the Trade, although it’s on the backdrop of pent-up demand and starting of a Festive Season this month,” Kenichi Ayukawa, President, SIAM mentioned.
“After a interval of lull owing to the COVID 19 imposed lockdowns, the month of August 2020 has witnessed enchancment within the gross sales figures of Two-Wheelers and Passenger automobiles. Nonetheless, Three-Wheeler phase continues to put up a de-growth of greater than (-) 75% in comparison with August 2019. Trade is constructive that the approaching festive season will pave the best way for a sooner revival of the trade,” Rajesh Menon, Director Normal, SIAM mentioned.