Domestic passenger vehicle wholesales rise nearly 13 pc in Nov on festive demand: SIAM

Passenger vehicle wholesales and two-wheeler sales rose in India by 12.73 per cent and 13.43 per cent in November compared to the same month last year on the back of festive demand, said SIAM.

New Delhi: Passenger vehicle wholesales in India increased by 12.73 per cent to 2,85,367 units in November as against 2,53,139 units in the same month last year riding on the back of festive demand, auto industry body SIAM said on Friday.

According to the latest data by the Society of Indian Automobile Manufacturers (SIAM), two-wheeler sales rose 13.43 per cent to 16,00,379 units, compared with 14,10,939 units in the same month last year.

Motorcycle sales were at 10,26,705 units as against 8,93,538 units in November 2019, up 14.9 per cent.

Scooter sales were also up by 9.29 per cent at 5,02,561 units from 4,59,851 units in the same month last year.

Three-wheeler sales, however, declined by 57.64 per cent to 23,626 units last month as against 55,778 units in November 2019.

"We have witnessed an increase in wholesale numbers in the month of November, where passenger vehicles grew by 12.73 per cent and two-wheelers by 13.43 per cent over the corresponding month of last year, primarily on account of the festive season," SIAM Director General Rajesh Menon said.

The retail sales of two-wheelers lag behind the wholesale sales numbers but would even out over a period, as original equipment manufacturers (OEMs) engage with their dealers, he added.

"While the festive season brought back some fervor in specific segments, the overall economic scenario would determine the industry's performance going forward," Menon noted.

(PTI Report)