Passenger vehicle wholesale in India rose 14% in October, says SIAM

Passenger automobile wholesale in India elevated by 14.19 per cent to 310,294 models in October in opposition to 271,737 models in the identical month final 12 months as firms despatched extra models to sellers to cater to enhanced demand within the festive season, auto trade physique SIAM stated on Wednesday.

According to the newest knowledge by the Society of Indian Automobile Manufacturers (SIAM), two-wheeler gross sales additionally rose 16.88 per cent to 2,053,814 models, in contrast with 1,757,180 models in the identical month final 12 months.

Motorcycle gross sales had been at 1,382,749 models as in opposition to 1,116,886 models in October 2019, up 23.Eight per cent.

Scooter gross sales had been additionally up 1.79 per cent at 590,507 models from 580,120 models in the identical month final 12 months.

Three-wheeler gross sales, nevertheless, declined by 60.91 per cent to 26,187 models final month as in opposition to 66,985 models in the identical month final 12 months.

“The month of October saw continuity in sales growth trajectory, drawing on from the previous month. There were marked improvements witnessed across certain segments due to very good festive demand,” SIAM Director General Rajesh Menon stated. Three-wheelers noticed a slight enchancment in gross sales, in comparison with the final month, nevertheless, it has nonetheless registered a de-growth of 60.91 per cent, over the corresponding month of final 12 months, he added.

“October wholesale numbers have been good on account of dealers preparing to serve demand for the upcoming Diwali festival, which is in November this year,” Menon stated.

During the month, wholesale of Maruti Suzuki India stood at 163,656 models, up 17.64 per cent from the identical month final 12 months. Similarly, Hyundai Motor India gross sales rose to 56,605 models, up 13.9 per cent from October 2019.

Kia Motors dispatched 20,621 models final month, a rise of 61.25 per cent over October 2019.

In the two-wheeler house, Hero MotoCorp wholesale stood at 791,137 models in October, up 34.78 per cent from the identical month final 12 months.

Honda Motorcycle and Scooter India gross sales stood at 494,459 models final month, up 1.36 per cent from October 2019.

TVS Motor Company noticed its wholesale improve by 19.27 per cent to 301,380 models final month as in contrast with the identical month final 12 months.

Earlier this week car sellers’ physique FADA had reported an 8.Eight per cent dip in passenger automobile (PV) retail gross sales in October at 249,860 models. According to the Federation of Automobile Dealers Associations (FADA), which collected automobile registration knowledge from 1,257 out of the 1,464 regional transport places of work (RTOs), PV gross sales stood at 273,980 models in October 2019.

Total retail gross sales throughout classes declined 23.99 per cent to 1,413,549 models, final month in comparison with 1,859,709 models within the year-ago interval. PTI MSS ANS ANS