Wholesale sales of cars and utility vehicles have registered a rise for the second consecutive month. Keeping in mind the festival season, car manufacturers have delivered to a larger number of dealers. According to data released by the Society of Indian Automobile Manufacturers (SIAM) on Friday, domestic vehicle sales of passenger vehicles in September this year were 2,72,027 units, which is 26 percent more than the wholesale sales of this month last year. At the same time, car sales increased by 28.92 per cent to 1,63,981 units as compared to the same period the previous year.
Two-wheeler sales also increased in September
The sales of utility vehicles increased by 24.50 percent compared to the same period last year. Utility vehicles have registered a third consecutive month of increase. According to SIAM President Kinchi Ayukawa, sales of passenger vehicles and two-wheelers are satisfactory. However, due to the low base of last year, sales are more visible. Two-wheelers sold 18.49 lakh units in September. This is 11.6 per cent more than in September 2019. The industry hopes to increase the pace of two-wheeler sales during the festival season.
He said that the auto loan has gone below eight per cent. The cheaper rate will boost sales of cars and two-wheelers to the people. Sales of passenger, utility vehicles and two-wheelers may have increased, but sales of commercial vehicles remain worrying. In the July-September quarter of this year, commercial vehicle sales fell 20.1 percent compared to the same period last year.