Economy on revival! 4, 2 wheeler sale rise in December

Image Source : PTI Passenger automobile section witnesses an increase in gross sales in December 2020 in comparison with Dec 2019.
Passenger automobile wholesales in India elevated 13.59 per cent to 2,52,998 models final month on a really low gross sales base of December 2019, auto trade physique SIAM mentioned on Thursday. Passenger automobile gross sales in December 2019 stood at 2,22,728 models.

As per the newest knowledge by Society of Indian Automobile Manufacturers (SIAM), two-wheeler gross sales additionally rose 7.42 per cent to 11,27,917 models, in comparison with 10,50,038 in December 2019. Motorcycle gross sales elevated 6.65 per cent to 7,44,237 models as towards 6,97,819 in December 2019.

Scooter gross sales have been additionally up 5.59 at 3,23,696 models from 3,06,550 models a 12 months in the past.

Commenting on the December gross sales, SIAM Director General Rajesh Menon mentioned the passenger automobile and two-wheeler segments witnessed a rise in gross sales final month over a really low base of December 2019.

In the October-December quarter this fiscal, passenger automobile gross sales elevated 14.44 per cent to eight,97,908 models from 7,84,616 models within the year-ago interval. Two-wheeler gross sales throughout the December quarter rose 13.37 per cent to 47,82,110 models as in comparison with 42,18,157 models in the identical interval a 12 months earlier.

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However, business automobile gross sales noticed a dip of 1.12 per cent to 1,93,034 models within the quarter underneath assessment towards 1,95,211 models in October-December 2019. Vehicle gross sales throughout classes throughout the third quarter rose year-on-year by 10.61 per cent to 59,44,991 models from 53,74,680 models.

SIAM President Kenichi Ayukawa mentioned passenger automobile and two-wheeler segments within the third quarter have proven some restoration, whereas business automobile and three-wheeler segments have been nonetheless within the adverse zone.

“However, third-quarter numbers could include an element of deferred demand for the first quarter. If we look at the cumulative numbers of the nine-month period from April to December 2020, it shows that sales of all segments are still behind by many years,” he famous.

The market state of affairs is dynamic and unsure, Ayukawa mentioned. The trade is going through a scarcity of semiconductors, metal and delivery containers, he famous.

“There is also an impact of the price increase of steel, logistics and other raw materials. The industry is working hard to get back to better volumes and better business health while ensuring the safety and well-being of people across the whole value chain,” he added.

Ayukawa famous that initiatives such because the announcement of the PLI scheme, low-interest charges, focused spending in rural areas and continued give attention to constructing highway infrastructure, will assist in the trade’s restoration course of.

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