Modi's Roadshow: Roads Closed, Traffic Diversions
LM NEWS 24
LM NEWS 24

Passenger Car Sales In India Doubled YoY In September

Modi's Roadshow: Roads Closed, Traffic Diversions

Passenger car sales doubled in September. Domestic sales of passenger cars sales recorded 1.42 lakh units in September this year, up from 64,235 units sold in the same period last year, registering a 91.86 per cent growth, according to the Society of Indian Automobile Manufacturers (Siam) data released on Thursday.

Passenger vehicles including passenger cars, utility vehicles, and vans registered total sales of 307,389 units in September as against 160,212 units sold in September 2021, up by 21.20 percent. The automobile sector registered overall sales of 2,093,286 units as against 1,727,008 units sold last year, up by 21.20 percent. Two-wheeler sales were 17,35,199 units as against 15,37,604 units sold last year, registering a 12.85 percent growth. Three-wheeler sales were 50,626 units as against 29,191 units sold last year, registering a 73.43 percent growth.

Commenting on quarterly sales data, Vinod Aggarwal, president, of Siam, said, “There is an improvement seen across the segments in Q2 of 2022-23, compared to the previous year. We are hopeful that the Industry will do well in the month of October, which has two major festivals of Dussehra and Diwali. The recent increase in the prices of CNG fuel, higher repo rates, and the Russia-Ukraine conflict are of concern and could impact the market in the coming months.”

Commenting on Industry performance, Rajesh Menon, Director General, Siam, said, “September month has been generally good for the industry, as the passenger vehicle segment has recorded highest ever sales in H1 (first half of the year) and commercial vehicle segment has started showing trends of better market demand. Off-take of entry-level two-wheeler and entry-level passenger vehicles have been of concern especially as the rural demand has not picked up.” (ANI)

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