Domestic PV sales dip 4 pc in July; signs of green shoots visible: SIAM

Passenger vehicle (PV) wholesales in India witnessed a 3.86 per cent fall to 1,82,779 units in July, according to data from the Society of Indian Automobile Manufacturers (SIAM). Besides, Honda Motorcycle and Scooter India witnessed a dip of 32.02 per in its wholesales at 3,09,332 units in July as against the year-ago month.

Passenger vehicle (PV) wholesales in India witnessed a 3.86 percent fall to 1,82,779 units in July, according to data from the Society of Indian Automobile Manufacturers (SIAM). The wholesale figure had stood at 1,90,115 units in the corresponding month of the previous year.

The July PV sales are significantly better than June when the despatches had declined by 49.59 percent at 1,05,617 units as against 2,09,522 units in the same month last year, SIAM stated. The figures instilled some confidence in the industry, it added. According to the latest data, two-wheeler sales were down 15.24 percent in July to 12,81,354 units as compared with 15,11,717 units in the same month last year.

Motorcycle sales were at 8,88,520 units, against 9,34,021 units in July 2019, down 4.87 percent. Scooter sales were also down 36.51 percent at 3,34,288 units, compared with 5,26,504 units in the year-ago month.

"After a few consecutive months of plummeted sales in a post-COVID-19 scenario, there are signs of green shoots in passenger vehicles and two-wheelers, where the year-on-year de-growth is much lesser than the previous months," SIAM President Rajan Wadhera said. The sales numbers in August would indicate if this is a sustainable demand and not just a pent-up demand, he added.

Similarly, SIAM Director-General Rajesh Menon said the July sales were significantly better than the preceding months and it instilled some confidence in the industry. "Many OEMs (original equipment manufacturers) have registered improved sales vis-à-vis the past few months, and this brings back a sentiment of resolve to the sector," he noted.

As per SIAM, the country's leading carmaker Maruti Suzuki India sold 70,090 units last month as compared with 71,486 units in July 2019. Hyundai Motor India wholesales stood at 19,828 units as compared with 22,776 units in the year-ago month.

In the two-wheeler segment, Hero MotoCorp wholesales last month stood at 5,06,946 units, down marginally from July 2019. Besides, Honda Motorcycle and Scooter India witnessed a dip of 32.02 per in its wholesales at 3,09,332 units in July as against the year-ago month.