Domestic sales of passenger vehicles jump by 21.1% in August: Siam

Domestic sales of passenger vehicles (PVs) increased by 21.1 per cent in August to 281,210 units, automobile industry body Siam said on Friday, adding that good monsoon and the upcoming festive season were likely to increase the demand in the coming months.

In August 2021, a total of 232,224 PVs were sold, according to the data released by Society of Indian Automobile Manufacturers (Siam). 

Three-wheelers’ domestic sales jumped from 23,606 units in August last year to 38,369 units in August this year, Siam noted. 

It said 1.55 million units of two-wheelers, including scooters, motorcycles and mopeds, were sold in India in August, showing a 16.33 per cent increase when compared to the corresponding month a year ago.

Units dispatched to dealers are counted as sales by the auto companies.

Rajesh Menon, director general, Siam, said, “While good monsoon and the upcoming festive season are likely to increase demand, Siam is keeping a close watch on the dynamic supply-side challenges.”

High CNG prices are a big challenge for the auto industry and Siam is keenly looking forward to the “kind interventions and support” from the government, he added.

Siam said the exports of passenger vehicles increased by 6.9 per cent to 54,733 units in August 2022. Passenger cars, utility vehicles and vans are included under the category of passenger vehicles.

Exports of three-wheelers, which include passenger carrier, goods carrier, e-rickshaw and e-cart, increased to 44,166 units, showing a jump of 19.64 per cent, Siam stated.