Vehicles production up 35.6%; PV sales grow 14% to 3.10 lakh units in October: SIAM

The Indian auto industry witnessed a 35.64 per cent growth in total production of passenger vehicles (PVs), three-wheelers two-wheelers, and quadricycles in October 2020, according to the latest data by the Society of Indian Automobile Manufacturers (SIAM).

In terms of domestic sales, a total of 3.10 lakh units Passenger Vehicles (PVs) were sold last month as compared to 2.71 lakh units in the same month last year, registering a growth of 14.19 per cent.  

The two-wheeler sales also moved to positive with 16.88 per cent to 20,53,814 units in October this year from 17,57,180 units in October 2019.

In the two-wheeler segment, motorcycle sales were at 13,82,749 units as against 11,16,886 units in October 2019, up 23.8 per cent. Whereas, scooter sales were up 1.79 per cent at 5,90,507 units from 5,80,120 units in the same period last year.

On the domestic positive sales, SIAM Director Rajesh Menon said, "The month of October saw continuity in sales growth trajectory, drawing on from the previous month. There were marked improvements witnessed across certain segments due to very good festive demand".

However, three-wheeler sales declined by -60.91 per cent to 26,187 units last month as against 66,985 units in October 2019. Menon added, "Three-wheelers saw a slight improvement in sales, compared to the last month, however, it has still registered a de-growth of 60.91 per cent, over the corresponding month of last year".

During the month, wholesale of Maruti Suzuki India stood at 1,63,656 units, up 17.64 per cent from the same month last year. Similarly, Hyundai Motor India sales rose to 56,605 units, up 13.9 per cent from October 2019. Kia Motors dispatched 20,621 units last month, an increase of 61.25 per cent over October 2019.

In the two-wheeler space, Hero MotoCorp wholesale stood at 7,91,137 units in October, up 34.78 per cent from the same month last year. Honda Motorcycle and Scooter India sales stood at 4,94,459 units last month, up 1.36 per cent from October 2019. TVS Motor Company saw its wholesale increase by 19.27 per cent to 3,01,380 units last month as compared with the same month last year.

However, sales of passenger vehicles were negative between the April-October period.  A total of 11.90 lakh units were sold between April and October 2020 against 16.05 lakh units during the same period last year.

Both two-wheelers and three-wheelers also witnessed de-growth during the same period at -28.82 per cent, and -78.66 per cent, respectively from April-October 2020.

Also read: Netflix, Hotstar, Prime Video, other digital platforms now under I&B ministry

Also read: Toyota Kirloskar Motor shuts entire Bidadi unit after employees protest