Passenger vehicle sales rise 12.7% in November amid festive fervour: SIAM

Passenger vehicles marked a significant 12.73% growth in November sales on a year-on-year basis at 285,367 units against 253,139 units sold in the same month last year, according to the latest Society of Indian Automobile Manufacturers' (SIAM) data. The two-wheeler sales stood at 1,600,379 units in November, compared to 1,410,939 units sold in November 2019, recording 13.43% growth. The three-wheeler segment, however, saw a huge decline. Three-wheeler sales were 23,626 units in November 2020 compared to 55,778 units in November 2019, marking a major decline of 57.64% in the sale.

The total production of passenger vehicles, three wheelers, two-wheelers and quadricycles in November was 2,319,845 units against 2,258,290 units in November 2019, marking a growth of 2.73%. In the financial year so far (April-November), the total production of all categories of vehicles stands at 13,160,377 units against 18,356,431 units sold during the same period last year, recording a decline of (-) 28.31%. During the period, PV sales dipped 20.57% at 1,476,027 units against 1,858,180 units sold during the same period last year.

Also read: Auto sector revival hits a speed breaker in November

Commenting on the November data, Rajesh Menon, Director General, SIAM said: "We have witnessed an increase in wholesale numbers in November, where Passenger Vehicles grew by 12.73% and Two-Wheelers by 13.43% over the corresponding month of last year, primarily on account of the festive season." He said the retail sales of two-wheelers lagged behind the wholesale sales numbers but would even out over a period,  as OEMs engage with their dealers. While the festive season brought back some fervour in specific segments, the overall economic scenario would determine the industry's performance going forward, he added.

In terms of companies' sales data, the story of revival in demand for automobiles in India showed signs of weakening. India's largest carmaker Maruti Suzuki had reported a 2.4% decline in wholesale dispatches in November. It came after four continual months of growth culminating in all-time high monthly sales in October. But for others, it was a good month. Hyundai reported a 9.4% growth, Mahindra grew 24.4%, Toyota 2.4 %, Honda 54.7%, and MG Motor 28.5%. Tata Motors continued its purple patch, growing by over 100%, while new entrant Kia Motors grew over by 50%.

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