Passenger vehicles, two-wheelers notch growth in sales in August

Passenger vehicles, two-wheelers notch growth in sales in August

New Delhi, September 11, 2020

Passenger vehicle sales in India grew by 14.16 per cent to 215,916 units in August 2020 as compared to 189,129 units in the same month of 2019, indicating a significant improvement in the market conditions after the slowdown experienced by the sector due to the nationwide lockdown to contain the COVID-19 pandemic.

The Society of Indian Automobile Manufacturers (SIAM) said in a press release that three-wheeler sales was 14,534 units in August 2020 compared to 58,818 units in August 2019, marking a decrease by (-) 75.29%.

Two-wheeler sales was 15,59,665 units in August 2020, compared to 15,14,196 units in August, adding up to a growth of 3%.

According to the release, the total production of passenger vehicles, three-wheelers, two-wheelers and quadricycles in the month of August 2020 was 21,62,367 units, as against 22,31,355 units in August 2019 with a de-growth of (-) 3.09%.

Total production of of passenger vehicles, three-wheelers, two-wheelers and quadricycles during April-August 2020 was 53,35,683 units as against 1,16,39,355 units in April-August 2019, a decline of (-) 54.16%.

Domestic sales of passenger vehicles was 5,52,429 units in April-August 2020, compared to 10,91,928 units in April-August 2019, down by (-) 49.41%.

Three-wheeler sales was 40,022 units in April-August 2020 compared to 2,64,334 units in April-August 2019, down by (-) 84.86%.

Two-wheeler sales was 41,34,132 units in April-August 2020, compared to 80,38,980 units in April-August 2019, down by (-) 48.57%

Commenting on the August 2020 data, Rajesh Menon, Director General, 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," he said.

Kenichi Ayukawa, President, SIAM stated “We are beginning to observe growth which isinstilling confidence back into the industry, especially in the two-wheeler and the passenger vehicle segments. 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 twp-wheelers in 2019, over 2018, then. Still, 14% growth of passenger vehicles and 3% growth in two-wheelers in August 2020 indicate trends of recovery for the industry, though it is on the backdrop of pent-up demand and beginning of a festive season this month.”

NNN

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