Passenger vehicle (PV) wholesales in India jumped 9 per cent year-on-year (YoY) in August on the back of strong demand for utility models, including SUVs, industry body Society of Indian Automobile Manufacturers (SIAM) said on Monday. According to a report by PTI, overall passenger vehicle dispatches to dealers rose to 3,59,228 units last month from 3,28,376 units in August 2022. Utility vehicle sales increased 34 per cent YoY to 1,81,825 units.
Dispatches of passenger cars, on the other hand, fell 10 per cent to 1,20,031 units from 1,33,477 units in August 2022. Van wholesales also dipped to 11,859 units from 12,236 units.
In a statement SIAM President Vinod Aggarwal said, “Last month saw the highest ever August month sales for passenger vehicles and three-wheelers.”
Three-wheeler sales rose to 64,763 units in August as against 38,369 units in the same month last year. Two-wheeler dispatches increased to 15,66,594 units from 15,57,429 units. “Two-wheeler sales remained at levels similar to a year ago,” Aggarwal said, adding that the industry also witnessed good growth in the commercial vehicle segment in August. Based on the performance last month, we are even more optimistic for demand to pick up during the festive season, enabled by positive economic outlook and the revival of monsoon after a deficit in August,” Aggarwal said.
In the passenger vehicle segment, Maruti Suzuki India saw an increase of 16 per cent in dispatches to dealers at 1,56,114 units from 1,34,166 units in August 2022. Rival Hyundai Motor India dispatched 53,830 units to dealers as against 49,510 units in the same month last year.
According to the automobile dealer’ body FADA, passenger vehicle retail sales increased by 7 per cent to 3,15,153 units last month from 2,95,842 units a year ago.
Similarly, two-wheeler registrations saw a jump of 6 per cent to 12,54,444 units as against 11,80,230 units in the same month last year. Besides, three-wheeler retail sales saw a jump of 66 per cent to 99,907 units in August from 60,132 units in August 2022, FADA said in its report last week.
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