PV wholesales up 9% to 3.59 lakh units in August: SIAM

The domestic passenger vehicle wholesales surged to 9.4% to 3,59,228 units in August as against 3,28,376 units sold in the same period last year, according to the latest data from the Society of Indian Automobile Manufacturers (SIAM).

During the month under review, two-wheeler sales stood at 15,66,594 units, witnessing a marginal growth of 0.58% against 15,57,429 units in the same period last year. The three-wheeler sales were up 68.7% at 38,369 units against 64,763 units in the same period last year.

"Last month saw the highest ever August month sales for Passenger Vehicles and Three-Wheelers, while Two-Wheeler sales remained at levels similar to a year ago. We have also observed good growth in the Commercial Vehicle segment in August 2023. Based on the performance of last month, we are even more optimistic for demand to pick up during the festive season, enabled by positive economic outlook and the revival of monsoon after a deficit in August," says Vinod Aggarwal, president, SIAM.

The passenger vehicle sales were led by utility vehicle sales, which accounted for 61.7% of total sales. In August, domestic utility vehicle sales stood at 1,20,031 units, declining by 10% against 1,33,477 units in the same period last year. The domestic sales of Tata Motors are not included in SIAM data.

Among automobile manufacturers, Maruti Suzuki India Limited (MSIL) led the passenger vehicle sales by selling 1,56,114 units in August, up 16.3%, against 1,34,166 units in the same period last year. The company produced 1,63,,546 units and exported 24,357 units during the month under review. In contrast to this, the country’s largest automobile manufacturer produced 1,56,041 units and exported 21,382 units in August last year.

This was followed by South Korean automaker Hyundai India, which sold 53,830 units of passenger vehicles in August, up 8.72%, against 49.510 units in August last year. The company produced 71,693 units and exported 17,605 units of passenger vehicles in August.

Mahindra & Mahindra sold 37,270 units of passenger vehicles in August, witnessing a growth of 24.8%, as against 29,852 units in the same period last year. The company produced 38,984 units and exported 930 units of passenger vehicles during the month under review.

The Federation of Automobile Dealers Association (FADA) retail sales data shows passenger vehicles surged 6.5% YoY to 3.15 lakh units in August. This was aided by improved vehicle supply and expanded customer schemes, the auto dealers' lobby says. "Despite such advances, supply chain bottlenecks persist, particularly in timely deliveries. The market has responded favourably to the introduction of new hybrid and CNG models; however, a constrained product range in popular segments, such as mid-size SUVs, continues to limit overall potential," it says.