Passenger Vehicles gross sales in July down by 3.86%, business sees ‘inexperienced shoots’

NEW DELHI: Passenger Vehicles sales in home market in July plunged by 3.86 per cent at 1,82,779 models towards 1,90,115 models in a year-ago interval, in keeping with knowledge launched by SIAM on Tuesday.
The three-wheeler gross sales was at 12,728 models in July 2020 in comparison with 55,719 models in July 2019 marking a lower by 77.16 per cent.
The two-wheeler gross sales was 12,81,354 models in July 2020, in comparison with 1,511,717 models in July 2019 marking a lower by 15.24%.
“The month of July was considerably higher than the previous months and it instilled some confidence into the business. Many OEMs have registered improved gross sales vis-à-vis the previous few months, and this brings again a sentiment of resolve to the sector,” mentioned Rajesh Menon, Director General, SIAM.
“After few consecutive of months of plummeted gross sales in a post-Covid state of affairs, there are indicators of Green-Shoots in Passenger autos and Two-Wheelers, the place the Year-on-Year de-growth is far lesser than the earlier months. The gross sales numbers within the month of August would point out, if this can be a sustainable demand and never only a pent-up demand,” Rajan Wadhera, President, SIAM, mentioned.

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