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Total passenger vehicle (PV) sales increased by 41% year-over-year (YoY) to 9,10,431 units in the first quarter of this year, compared to 6,46,271 units at the same time last year.
In the first quarter of the current fiscal year, PV sales increased to 9.10 lakh units for the first time in the previous five years. The industry sold 8.73 lakh units in the first quarter of 2018-19, according to the latest sales data from the Society of Automobile Manufacturers (SIAM).
In the recent five years, however, there has been a struggle in the entry-level segments of categories, such as the small car sector, the 125cc scooter segment, and the 110cc motorcycle segment (commuter segments).
In the first quarter of this year, sales of compact passenger cars (Alto, S-Presso) decreased by 59 percent to 55,000 units, compared to 1.35 lakh units in the same quarter of 2018-19.
In the 125cc motorbike sector, sales decreased by 36 percent from April to June 2018-19 to around 11.50 lakh units, compared to 18.09 lakh units.
Similarly, sales of 110cc motorcycles are down 42% to 42.77 lakh units compared to 22.12 lakh units in the same time of the 2018-19 fiscal year.
The latest sales report released by the Society of Automobile Manufacturers (SIAM) last Wednesday indicates that passenger car sales increased by 22 percent year-over-year to 4,11,441 units in the April-June quarter (versus 3,37,191 units), while the utility vehicle (UV) segment increased by 62 percent year-over-year to 4,64,558 units from 2,86,091 units in the same period last year.
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Data For Two-Wheeler Sector
In the two-wheeler market, motorcycle sales increased by 38 percent year-over-year to 24,05,228 units as of April-June 2021, compared to 17,40,308 units. During the third quarter, scooter sales increased by 100 percent to 12,07,903 units, compared to 6,04,283 units during the same period the previous year.
This has resulted in a 54 percent year-over-year increase in two-wheeler sales to 37,24,533 units in the first quarter, up from 24,13,608 units in the same time the previous year.
Data For Commercial Vehicles
Comparatively, the entire commercial vehicle segment increased 112% to 2,24,512 units during the quarter, compared to 1,05,800 units during the same quarter the year prior.
Three-wheeler sales also increased by 211 percent, from 24,522 units in 2021 to 76,293 units in 2022, according to SIAM statistics.
Domestic sales increased by 55 percent year-over-year during the April-June quarter, reaching 49,35,870 units compared to 31,90,202 units during the same period in the prior year.
“Recently, the government has made substantial steps to alleviate inflationary pressure and assist the average citizen by cutting the central excise charge on gasoline and diesel and modifying the duty structure to moderate the costs of steel and plastic. In addition, the sector eagerly anticipates comparable assistance for CNG costs, which have increased exponentially over the past seven months. Support for CNG rates will benefit the average man, simplify public transportation, and contribute to a cleaner environment, according to Rajesh Menon, General Director of SIAM.
PV wholesale sales in India increased by 19% year-over-year in June due to an increase in semiconductor supply and shipments to dealers, which reached 2,75,788 units compared to 2,31,631 units in June 2021.
Similarly, overall wholesale two-wheeler sales rose to 13,08,764 units last month, up from 10,60,564 units in the same month a year ago. Last month, total three-wheeler sales increased to 26,701 units, up from 9,404 units in June 2021.
June sales increased to 16,11,300 units from 13,01,602 units in the same month the previous year.
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