Wholesale passenger vehicle volumes rose 291,928 units from 262,984 units one year ago...

SIAM president Vinod Aggarwal noted that better consumer sentiment is driving demand for passenger vehicles...

Demand has been propped by festive season, which typically starts in October when many Indians make big-ticket purchases...

Auto production already hit by semiconductor shortages and hikes in input costs...

Total wholesales stood at 251,581 units last month compared with 261,633 units in April 2021...

The industry is yet to see a complete recovery following the disruptions it has been facing since early 2020...

Similarly, two-wheeler sales were at an 11-year low at 10.5 lakh units, down 34 per cent from 16 lakh units in the year-ago period...

According to a note from Emkay, a good demand is expected in two-wheelers, PVs and CVs, the same trend is not expected with regard to tractors...

The decline occurred as semiconductor shortage hit production leading to a drop in supplies from manufacturers to dealers...

The levy was originally introduced in 2016 with an eye on taxing transactions arising in a digital economy...