Festivals, new launches push auto sales into top gear in October

Mumbai: Passenger vehicles sales in India jumped 21.46% to 268,629 units in October, industry body Society of Indian Automobile Manufacturers (Siam) said on Tuesday. The pick up in demand was led by festive season demand and new model launches.

This is the first time in several months that sales have seen uniform growth across categories including motorcycles and three wheelers, sales of which had been slowing for more than a year.

Sales of medium and heavy duty trucks rose by a robust 24% to 22181 units. Motorcycles sales, which have been a drag on the two wheelers segment, rose 5% bumping up the segment sales up by 13.31% to 1656,235 units.

For the April-October period, the industry produced a total 14,251,520 vehicles including passenger vehicles, commercial vehicles, three wheelers and two wheelers, a marginal growth of 3.7% over the same period last year, said Siam in a release on Tuesday.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.