car manufacture

SIAM Reports Passenger Car Sales In August 2020

Passenger vehicle sales in the country rose 14.16 per cent in August compared with the corresponding period a year ago, data from industry body Society of Indian Automobile Manufacturers (SIAM) showed on Friday. That included a 14.13 per cent increase in passenger car sales last month. The latest data from SIAM highlights a pickup after months of weakness in sales and production in the country’s automobile sector, as COVID-19-related restrictions kept consumers from making big purchases.

Total sales in the domestic market improved to 2,15,916 passenger vehicles last month, from 1,89,129 in August 2019, according to industry body SIAM. The number includes sales of passenger cars, utility vehicles and vans.

The improvement in the overall sales indicates trends of recovery for the automobile industry, the industry body said in a statement. 

“After a period of lull owing to the COVID-19-imposed lockdowns, the month of August 2020 has witnessed improvement in the sales figures of two-wheelers and passenger vehicles… Industry is positive that the coming festive season will pave the way for a faster revival,” said Rajesh Menon, Director General, SIAM.

Car sales in the domestic market picked up 14.13 per cent to 1,24,715 vehicles, from 1,09,277 in August 2019.

Sales of two-wheelers – including scooters, motorcycles, and modeds – rose 3 per cent to 1,559,665 units, data showed.

Total production of passenger vehicles, however, declined 3.09 per cent in August. 

In the first five months of current financial year (April-August), passenger vehicle sales stood at 5,52,429 units, down 49.41 per cent compared to the year-ago period.

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