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Within the PV section, there was excessive progress within the utility car section as their demand rose 17.2 per cent at 1,03,525 items, as in opposition to 88,361 items offered in November final 12 months. (Source: Bloomberg/Representational)
The vehicle trade registered 9.Eight per cent progress in November over the year-ago month, pushed by festive demand for two-wheelers and passenger autos (PVs). While PV gross sales rose 4.65 per cent to 2,64,898 items, the two-wheeler section witnessed a powerful progress of 13.Four per cent with gross sales of over 16 lakh items.
Even as November turned out to be month, trade insiders really feel that gross sales progress going ahead would rely extra on the general financial state of affairs.
According to information launched by Society of Indian Automobile Manufacturers (SIAM), the whole car gross sales throughout the 4 segments — PVs, two-wheelers, three-wheelers and quadricycle — for final month stood at 18,88,903 items as in opposition to 17,19,874 items in November final 12 months.
Within the PV section, there was excessive progress within the utility car section as their demand rose 17.2 per cent at 1,03,525 items, as in opposition to 88,361 items offered in November final 12 months.
Within the two-wheeler section, the excessive progress was pushed by gross sales of bikes because the trade offered 10.26 lakh items final month as in opposition to 8.93 lakh items in November 2019, registering a progress of 14.9 per cent. Sales of scooters rose by 9.three per cent.
Three-wheeler gross sales stood at 23,626 items in November in comparison with 55,778 items within the corresponding month final 12 months and registered a 57.6 per cent decline.
Even as the general gross sales quantity rose over that seen in November 2019, trade insiders really feel that going ahead the expansion could be largely pushed by broader financial fundamentals.
Rajesh Menon, director basic, SIAM, stated, “While the festive season brought back some fervor in specific segments, the overall economic scenario would determine the industry’s performance going forward.”
For the eight month interval until November, complete gross sales throughout the 4 segments declined by 26 per cent from 1.51 crore items final 12 months to 1.12 extra items this 12 months. While PV gross sales was recorded at 14,55,558 items throughout April-November and was down by 21.67 per cent, gross sales of two-wheelers was down by 25.08 per cent at 96.37 lakh items.
© The Indian Express (P) Ltd
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