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The improve in gross sales is primarily attributed to a low base final yr and the pent-up demand that is including to the gross sales after easing off of the lockdown.
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Passenger car gross sales witnessed double-digit progress in August 2020.
Auto gross sales have lastly obtained again on observe recording a double digit progress in August 2020. The revival comes after 4 months of dwindling gross sales for the reason that nation went into the lockdown that took a large toll on the auto business. The passenger car section has recorded a progress of 14.16 per cent at 2,15,916 models as in comparison with 1,89,129 models offered a yr in the past. Sales of passenger automobiles went up by 14.13 per cent at 1,24,715 models towards 1,09,277 models offered in the identical month final yr. The UV section recorded an uptick of 15.54 per cent promoting 81,842 models as in comparison with 70,837 models offered a yr in the past. The van section additionally witnessed a rise 3.82 per cent at 9,359 models as in comparison with 9,015 models offered in the identical month final yr.
Also Read: Car Sales August 2020: Maruti Suzuki Finally Sees Y-o-Y Growth After 6 Months
Kenichi Ayukawa, President- Society Of Indian Automobile Manufacturers (SIAM) mentioned, “We are beginning to observe growth which is instilling confidence back into the industry, especially in the Two-wheeler and the Passenger Vehicle segments. Even though the industry witnessed year-on-year growth in August 2020, it is to be recognized that the base figures in August 2019 itself was very low, as Industry had shown a de-growth of about (-) 32 per cent for passenger vehicles and (-) 22 per cent for two-wheelers in 2019, over 2018, then. Still, 14 per cent growth of passenger vehicles and 3 per cent growth in two-wheelers in August 2020 indicates trends of recovery for the Industry, though it is on the backdrop of pent-up demand and beginning of the festive season this month.”
Also Read: Auto Sales July 2020: Retail Sales Records 36.27 Per Cent De-Growth
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Sales of two-wheelers additionally went up by Three per cent final month at 15,59,665 models as in comparison with 15,14,196 models whereas three-wheelers gross sales are nonetheless tumbling recording a decline 14,534 models as in comparison with 58,818 models offered in the identical month final yr. The improve in gross sales is primarily attributed to a low base final yr and the pent-up demand that is including to the gross sales after easing off of the lockdown. People have additionally been shifting their desire towards private mobility resulting in a rise within the demand of entry-degree and compact autos.
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