Vehicle sales double in September
Passenger vehicle sales for September nearly doubled to 3.07 lakh units from a year ago, the Society of Indian Automobile Manufacturers (SIAM) said on Thursday. Production for the month also rose 88 per cent to 3.7 lakh.
Sales in the world’s fourth-largest car market have rebounded as crippling semiconductor shortages ease.
Demand has also been propped by the festive season, which typically starts in October when many Indians make big-ticket purchases.
“Recent increase in the prices of CNG fuel, higher repo rates and the Russia-Ukraine conflict are of concern and could impact the market in the coming months,” SIAM president Vinod Aggarwal said.
Passenger vehicle sales in the July-September quarter rose 38.4 per cent to 10.2 lakh units. Two wheeler sales, a good indication of rural buying power, rose to 12.9 per cent 17.3 lakh units and 13 per cent for the quarter. Monthly sales for mopeds fell nearly 23 per cent to 47,613 units.
“Off-take of entry level two-wheelers and entry level passenger vehicles have been of concern especially as the rural demand has not picked up,” said Rajesh Menon, director-general of SIAM.
“More than half of the overall passenger vehicle dispatches are utility vehicles so there is a strong demand for models in this particular segment,” Aggarwal said.
Utility vehicle dispatches in the September quarter stood at 5.17 lakh units; passenger cars at 4.6 lakh units and vans at 29,904 units.
With inputs from Reuters