October 2020 Sales: Passenger vehicles and two-wheelers show positive domestic sales
The automobile sales performance for the month of October 2020 has been released by Society of Indian Automobile Manufacturers (SIAM). It mentions a total of 28.30 lakh vehicles were manufactured in the month of October 2020, which includes passenger vehicles, three-wheelers, two-wheelers and quadricycles. Compared to the same month last year, this is a growth of 35.64 per cent as a total of 20.86 lakh vehicles were manufactured.
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In terms of domestic sales, a total of 3.10 lakh passenger vehicles were sold in October 2020, as compared to 2.71 lakh units in October 2019, registering a growth of 14.19 per cent. Even two-wheelers saw a positive trend with a sale of 20.53 lakh units in October 2020 as compared to 17.57 lakh units in October 2019, witnessing a positive growth of 16.88 per cent. However, the three-wheelers saw a decline of 60.91 per cent with a sale of 26,187 units in October 2020 as compared to 66,985 units in October 2019.
The April-October 2020 sales performance for passenger vehicles with a sale of 11.90 lakh units was lower compared to 16.05 lakh units during the same period last year, registering a decline of 25.84 per cent. Two-wheeler sales too were lowered at 80.37 lakh units in April-October 2020 as compared to 11,452,818 units in April-October 2019, seeing a decline of 29.82 per cent. Taking a severe beating were three-wheeler sales at 84,849 units in April-October 2020 compared to 397,681 units in April-
October 2019, down by 78.66 per cent.
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Commenting on the October 2020 data, Rajesh Menon, Director General, SIAM said "The month of October saw continuity in the sales growth trajectory, drawing on from the previous month. There were marked improvements witnessed across certain segments due to very good festive demand. The sale of Passenger vehicles went up by 14.19% and that of two-wheelers, grew by 16.88%, compared to October last year. Three-wheelers saw a slight improvement in sales, compared to the last month, however, it has still registered de-growth of (-)60.91 %, over the corresponding month of last year. October wholesale numbers have been good on account of dealers preparing to serve the demand for the upcoming Diwali festival, which is in November this year."
