The sales of passenger vehicles surged 92% in September this year to 3,07,389 units, compared to the same period last year, according to the data released by the Society of Indian Automobile Manufacturers (SIAM).
The total production of passenger vehicles in the three-wheeler, two-wheelers and four-wheelers segment in September stood at 2,479,256 units. Of this, the three-wheeler sales accounted for 50,626 units and the two-wheeler sales accounted for 1,735,199 units.
Rajesh Menon, director general, SIAM said, “September month has been generally good for the industry, as the Passenger Vehicle segment has recorded the highest ever sales in H1 and the Commercial Vehicle segment has started showing trends of better market demand. Off-take of entry-level Two-Wheelers and entry-level Passenger Vehicles have been of concern especially as the rural demand has not picked up.” The passenger vehicle sales in H1 this year stood at 19,37,000 units as compared to 13,88,000 units in the same period last year.
Notably, in August, the passenger vehicle sales witnessed a surge of 21.1% of 232,224 units compared to the same period last year. Of this, the three-wheelers' domestic sales stood at 23,606 units, while the two-wheelers sales stood at 1,55,000 units.
Between the July and September quarter this year, the total production of passenger vehicles, commercial vehicles, three-wheelers, two-wheelers, and four-wheelers stood at 7,353,039 units. Of this, the passenger vehicle sales were the highest for July to September quarter this year at 1,026,309 units, compared to 7,41,000 units in the same period last year. The commercial vehicle sales for Q2 this year stood at 2,31,880 units, as compared to 1,66,000 units last year. The three-wheelers sales for the September quarter stood at 1,20,319 units, whereas two-wheelers sales stood at 4,673,931 units.
Vinod Aggarwal, president, 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.”
