PV wholesale sales up 29 percent to 2.91 lakh units in October: SIAM

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Total deliveries of passenger cars, three-wheelers and two-wheelers last month were 19,23,032 units, up 6 percent from 18,10,856 units in October 2021

Total deliveries of passenger cars, three-wheelers and two-wheelers last month were 19,23,032 units, up 6 percent from 18,10,856 units in October 2021

Wholesale passenger car sales in India rose 29 percent in October to 2,91,113 units, helped by robust demand around the holiday season, the Society of Indian Automobile Manufacturers (SIAM) said on Friday.

A total of 2,26,353 passenger cars were shipped from companies to dealers in October 2021.

Total deliveries of two-wheelers increased by 2 percent to 15,77,694 units last month compared to October 2021.

“Good market sentiment combined with a festive rebound led to higher sales in October, particularly for passenger cars,” said SIAM President Vinod Aggarwal.

Higher inflation and rising interest rates have hit the rural market harder, triggering modest growth in the two-wheeler segment, he added.

Wholesale sales of tricycles rose to 54,154 units last month from 31,812 units in the same period last year. Passenger tricycles are seeing better take-up due to increased shared mobility in semi-urban and urban areas, Mr Aggarwal said.

Rajesh Menon, director general of SIAM, elaborated further on sales over the past month and said that although passenger cars reported their highest ever domestic sales from April to October 2022, sales of two-wheelers in these seven months are still lower than in 2016.

“For three-wheelers, it is lower than in 2010. Likewise, exports of passenger cars have continued to grow, while exports of two- and three-wheelers have declined,” he added.

Total deliveries of passenger cars, three-wheelers and two-wheelers last month were 19,23,032 units, up 6 percent from 18,10,856 units in October 2021.

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