According to industry group SIAM, wholesale sales of passenger vehicles in the nation increased 9% year over year in August as a result of strong demand for SUVs and other utility vehicles. From 3,28,376 units in August 2022, the total number of passenger vehicles dispatched to dealers increased to 3,59,228 units last month. Sales of utility vehicles grew 34% year over year to 1,81,825 units.
On the other hand, passenger car dispatches decreased 10% to 1,20,031 units from 1,33,477 units in August 2022. The number of vans sold at wholesale fell from 12,236 to 11,859 units. Compared to the same month last year, when three-wheeler sales were 38,369 units, they increased to 64,763 units in August. 15,66,594 two-wheeler dispatches were made as opposed to 15,57,429 units.
“Based on the performance 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,” Aggarwal said.
Maruti Suzuki India saw an increase of 16% in dispatches to dealers for passenger vehicles, going from 1,34,166 units in August 2022 to 1,56,114 units in August 2023. The number of vehicles sent to dealers by rival Hyundai Motor India increased from 49,510 in the same month last year to 53,830 this month.
According to FADA, the trade organization for car dealers, retail sales of passenger vehicles increased by 7% to 3,15,153 units last month from 2,95,842 units a year earlier. Similar to this, the number of two-wheeler registrations increased by 6% to 12,54,444 units from 11,80,230 units in the same month last year. Additionally, according to a report released by FADA last week, retail sales of three-wheelers increased by 66% to 99,907 units in August from 60,132 units in August 2022.
