IBEF: November 12, 2020
Wholesale passenger vehicles in India increased by 14.19% to 3,10,294 units in October against 2,71,737 units in the same month last year, as companies transported more units to distributors to meet increased demand in the festive season, SIAM said on Wednesday.
Two-wheeler sales also rose 16.88% to 20,53,814 units, compared with 17,57,180 units in the same month last year, according to the latest data from the Society of Indian Car Manufacturers (SIAM).
In October 2019, motorcycle sales were at 13,82,749 units compared to 11,16,886 units, up 23.8%.
Scooter sales at 5,90,507 units were also up 1.79% from 5,80,120 units in the same month last year.
However, three-wheeler sales decreased by 60.91% to 26,187 units last month, compared to 66,985 units in the same month last year.
"The month of October witnessed consistency in the trajectory of sales growth, drawing on the previous month. Due to very strong festive demand, marked enhancements were seen across some segments," said SIAM Director General Mr. Rajesh Menon.
Three-wheelers had seen a marginal increase in sales compared to the previous month, but a de-growth of 60.91% was still observed over the corresponding month of last year, he added.
"Due to dealers planning to serve demand for the upcoming Diwali festival, which is in November this year, October wholesale numbers have been strong," Menon said.
Maruti Suzuki India wholesale stood at 1,63,656 units in October 2020, up 17.64% from the same month last year. Additionally, sales of Hyundai Motor India grew to 56,605 units, up 13.9% from October 2019.
Last month, Kia Motors delivered 20,621 units, an expansion over October 2019 of 61.25%.
Hero MotoCorp wholesale stood at 7,91,137 units in October, up 34.78% from the same month last year, in the two-wheeler space.
Last month, Honda Motorcycle and Scooter India sales stood at 4,94,459 units, up 1.36% from October 2019.
In contrast with the same month last year, TVS Motor Company saw its wholesale rise by 19.27% to 3,01,380 units last month.
FADA announced an 8.8% decrease in retail sales of passenger vehicles (PV) in October to 2.49,860 units earlier this week.
In October 2019, PV sales stood at 2,73,980 units, according to the Federation of Car Dealers Associations (FADA), which recorded vehicle registration data from 1,257 out of 1,464 regional transport offices (RTOs).
Total retail sales across categories decreased by 23.99% to 14,13,549 units, compared with 18,59,709 units in the year-ago period last month.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.