Auto Sales Sustain The Growth Momentum In October’20

Continuing the positive growth in its sales trajectory, auto wholesales in the month of October saw a massive surge vis-à-vis the same month last year. According to the data released by the Society of Indian Automobile Manufacturers (SIAM), the month of October witnessed 35.64% growth in total domestic sales to 28,30,153 units as against 20,86,479 units in the same month last year. This includes the production of PVs, three-wheelers, two-wheelers, and quadricycles. Furthermore, passenger vehicles went up by 14.19% growth in domestic sales at 310,294 units in October 2020 as compared to 271,737 units sold in the same month last year, as shared by the auto industry body.

Three-wheeler sales last month were 26,187 units in October 2020 compared to 66,985 units in October 2019 marking a decrease by (-) 60.91%. • Furthermore, Two-wheeler sales were 2,053,814 units in October 2020, compared to 1,757,180 units in October 2019, with a growth of 16.88%. The total production of Passenger Vehicles comprising three-wheelers, two-wheelers, and quadricycle in the month of October 2020 was 2,830,153 units, as against 2,086,479 units in October 2019 marking a growth of 35.64%.

Commenting on the October 2020 data, Rajesh Menon, Director General, SIAM said “There were marked improvements witnessed across certain segments due to very good festive demand. The October wholesale numbers have been good on account of dealers preparing to serve the demand for the upcoming Diwali festival, which is in November this year."