August proved to be an exceptionally good month for passenger cars and three-wheelers which registered their highest ever sales. Commercial vehicles posted good numbers too while two-wheeler sales remained flat.
According to a SIAM (Society of Indian Automobile Manufacturers) release, passenger vehicle sales grew 9.40% to 3.59 lakh units while three-wheelers were up 68.79% to 65,000 units. Two-wheeler sales remained pretty much static at 1.56 million units, a growth of 0.59% from August 2022.
While breaking up the PV performance, SUVs clearly were the frontrunners with sales of 181,825 units compared to 135,497 units in the same month last year. Passenger cars were, however, down to 120,031 units from 133,477 units as also vans to 11,859 units from 12,236 units in August last.
Three-wheelers saw robust sales at 64,763 units, up from 38,369 units with all segments — passenger carriers, e-rickshaws, goods carriers and e-carts — doing well. “We are even more optimistic for demand to pick up during the festive season enabled by a positive economic outlook and the revival of the monsoons after a deficit in August,” said Vinod Aggarwal, President of SIAM.
Not everything was hunky-dory in August with entry-level cars and two-wheelers still facing headwinds thanks to higher ticket prices and shifting customer preferences. It is quite evident that there are a host of factors coming in the way of offering affordable products in these categories.
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