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Monday, 19 October 2020

Sales in the auto sector rose after two months, with passenger sales up 28%

Report:Sales in the auto sector rose after two months, with passenger sales up 28%





Two-wheeler sales also rose 11.64% in September, according to the report
Two-wheeler sales in the September quarter stood at 46.90 lakh units in the current financial year.


The Society of Indian Automobile Manufacturers (SIAM) has released the September Passenger Vehicle Report. According to the report, passenger vehicle wholesale grew by 26.45 per cent to 2.72 lakh units.


 In September 2019, the figure was 2.15 lakh units. That is, more than 56,000 units were sold last month, based on year-over-year data. Auto sales have been on the rise for the last 2 months. Sales had dropped significantly earlier due to Covid.



Two-wheeler sales rose 11.64%

Two-wheeler sales rose 11.64% to 18.49 million units in September, according to the latest CIAM data. In September 2019, the figure was 16.56 lakh units. That is, sales increased by 1.92 lakh units on a year-on-year basis.


Bike sales have increased from 10.43 lakh units in September 2019 to 12.24 lakh units. That is, the bike segment has seen a growth of 17.3%. As well, the scooter segment saw a slight increase on a year-over-year basis. Last month, 5.56 lakh units of scooters were sold, up from 5.55 lakh units in September 2019.

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Sales
of passenger vehicles increased by 17.02% to 7.26 lakh units in the July-September 2020 quarter from 6.20 lakh units in the same period last fiscal. Two-wheeler sales in the September quarter of the fiscal year. 46.90 lakh units as against 46.88 lakh units in the corresponding period of the previous financial year.

Sales of commercial vehicles declined by 20.13%
However, sales of commercial vehicles in July-September 2019 were 1.67 lakh units, down 20.13% to 1.33 lakh units in the same period. Vehicle sales declined marginally to 55.96 lakh units in the second quarter from 56.51 lakh units in the year-ago period.

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