Retail sales of automobiles see 4% uptick in August

Automobile retail sales for August 2020 saw an uptick of 4 per cent on a sequential basis compared to July 2020.

On a YoY basis, growth in automobiles retail sales is still in the negative category. The two-wheeler segment de-grew 28.7 per cent. On monthly basis, the sales of two wheelers grew by 2.8 per cent in August 2020.

Most automobile dealerships across the country have reopened their stores. The upcoming wedding and festive season - October 2020 onwards - will elevate demand. Three-wheeler sales grew 11.4 per cent in August compared to last month.

In terms of yearly growth, commercial vehicles sales registered a de-growth of 57 per cent. On a monthly basis, it showed a significant growth of 37.5 per cent in August.

Coronavirus outbreak has resulted in growing preference of personal vehicles over public transport. This has increased demand for two-wheelers and passenger vehicles. Passenger vehicle sales witnessed a growth of 13 per cent in August compared to July.