India's domestic passenger vehicle sales up 9.4 pc in August, reveals SIAM data
Driven by a pick-up in demand, automakers recorded a 9.4% year-on-year increase in passenger vehicles (PVs) sales to 3.59 lakh units during the month of August 2023 and remain optimistic about sales in the coming festive months.
Total domestic passenger vehicle sales in August 2022 stood at 3.28 lakh.
According to monthly auto sales data released by Society of Indian Automobile Manufacturers (SIAM), three-wheelers also reported a significant growth of 68.79% in August 2023, posting sales of about 64,763 units during the month.
As many as 15.67 lakh two-wheelers were sold last month in the country, with a growth of 0.59% compared to August 2022.
Commenting on sales data, Vinod Aggarwal, President, SIAM said, “Last month saw the highest ever August month sales for Passenger vehicles and three-wheelers, while two-wheeler sales remained at levels similar to a year ago."
He further said, "We have also observed good growth in the commercial vehicle segment in August 2023. Based on the performance of last month, we are even more optimistic for demand to pick-up during the festive season, enabled by positive economic outlook and the revival of monsoon after a deficit in August.”
As per the latest data, the total production of passenger vehicles, three-wheelers, two-wheelers, and quadricycles in August 2023 was 23,85,901 units.
(With UNI inputs)
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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