Manufacturers count on good demand in the course of the festive season that kicks off from Friday.
Passenger automobile dispatches to the sellers recorded sturdy double digit progress of 26.45% in September with producers anticipating good demand in the course of the festive season that kicks off from Friday.
Also learn: July sales trace at auto sector revival
Passenger automobile wholesale sales elevated to over 2.72 lakh models over the past month as in comparison with about 2.15 lakh models in September 2019, in keeping with information launched by the Society of Indian Automobile Manufacturers (SIAM) on Friday.
While automotive sales rose 28.92% to over 1.63 lakh models in September 2020 from about 1.27 lakh models in the year-ago month, sales of utility autos and vans had been up 24.5% to 96,633 models and 10.64% up 11,413 models, respectively.
Two-wheeler sales grew 11.64% to over 18.49 lakh models as in opposition to over 16.56 lakh models in the identical month final yr. Data confirmed a year-on-year progress of 17.30% for bikes to over 12.24 lakh models and a marginal improve in sales of scooters at about 5.56 lakh models.
For industrial autos, SIAM releases sales information for the total quarter. As per the info, industrial automobile sales, that are often seen as an indicator of financial exercise in the nation, fell 20.13% to about 1.33 lakh models in July-September 2020 quarter as in contrast with about 1.67 lakh models in similar interval of 2019.
Kenichi Ayukawa, SIAM president, mentioned that the Indian automotive trade was working onerous amidst the robust COVID-19 scenario to extend manufacturing and sales, whereas making certain the protection of consumers and workers throughout the entire worth chain.
“In quarter-2 some segments have shown signs of recovery. Passenger vehicles and two-wheelers are positive, although on a very low base of previous year. We are expecting good demand in the festive season starting tomorrow,” he mentioned, including that due to the federal government intervention, auto mortgage rates of interest are beneath 8%, the bottom in a decade, and that ought to encourage prospects to buy new autos.
Three-wheeler sales in the final month continued to be in the adverse zone, nosediving practically 72% to 18,640 models in September 2020 as in opposition to 66,362 models in the year-ago month.
Rajesh Menon, SIAM Director General, mentioned “…in the quarter, July-September 2020, passenger vehicles grew by 17.02%, two-wheelers grew by 0.17%, three-wheelers saw a de-growth of 74.63%…compared to the same Quarter in 2019.”