Passenger vehicle sales in October go up by 28% after festival season: SIAM

As per the data, a total of 291,113 passenger vehicles were sold in October which is 60,000 units more that the last year during the same time period.

FPJ Web DeskUpdated: Friday, November 11, 2022, 12:25 PM IST
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Passenger vehicle sales in October go up by 28%: SIAM | Image by Karolina Grabowska from Pixabay

The Society of Indian Automobile Manufacturers (SIAM) in its latest report released on Friday said that after the domestic festival season there was a significant growth in all passenger vehicles. As per the data, a total of 291,113 passenger vehicles were sold in October which is 60,000 units more that the last year during the same time period. But it is less than the September sales, where 3,07,389 passenger vehicles were sold.

The sales of three-wheelers went up by 70 per cent from last year with the sales totaling 54,154 units. In October 2021, 31,812 three-wheeler units were sold which is approximately 22,300 less than this year. It is also higher than the September numbers where 50,626 units were sold.

An important point to note is that the sales of e-rickshaws have almost doubled at 2,323, where as last year it was at 1,322.

The two-wheeler sales were 15,77,694 units up by 1.6 per cent in comparison to last year. The sales for October are lower than that of September where approximately 17.35 lakh units were sold.

The sales of scooter and motorcycles have gone up, but the sales of mopeds have gone down. Even the sales of quadricycles have gone up.

The sales of vehicles were affected earlier this year due to a global shortage of semiconductors, which directly impacted automakers of all segments as they had to cut down on production.

“Good market sentiments coupled with festive boost, resulted in higher sales in October, especially for Passenger Vehicles. Higher inflation and rising interest rates have impacted the rural market more, thereby returning marginal growth of the Two-Wheeler segment. Passenger ThreeWheelers is seeing better off-take due to increased shared mobility in semi-urban and urban areas,” said Vinod Aggrawal, President, SIAM, commenting on the October sales.

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