India’s passenger vehicle wholesales jump up by 28% in November
- IBEF
- December 14, 2022
As per the data from an industry body, the Society of Indian Automobile Manufacturers (SIAM), the passenger vehicle wholesales for India witnessed a jump of 28% on a year-on-year basis in November. This jump can be seen in the high demand for both, utility vehicles and cars and the sale of passenger vehicles (in total) amounted to 276,231 units this year, while it was 215,626 units in November 2021. The sale of both, utility vehicles and passenger cars, also increased by 32% and 29%, respectively on year-on-year basis.
"Positive consumer and business sentiments have reflected in the better sales in the month of November 2022, compared to the previous year," the President of SIAM, Mr. Vinod Aggarwal said. Nonetheless, he added that the three-wheeler dispatches (sales) are still lower than in 2010-11 and that of the two-wheelers are less than in 2016-17. He also stressed on the fact that higher interest rates and increase in long-term insurance premiums are matters of concern for consumers.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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