Pent-up demand, base effect push July domestic PV sales’ higher
Even on sequential basis, July sales were higher than 2,31,633 units sold during June.
India’s domestic passenger vehicle (PV) sales were higher in June on a year-on-year basis with base effect, low-interest rates, and pent-up demand.
Sales of passenger vehicles increased to 2,31,633 units last month compared to 1,05,617 units sold during the same period of 2020.
However, the Society of Indian Automobile Manufacturers (SIAM) said that YoY data cannot be compared due to last year’s national lockdown and the regional restrictions in 2021.
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The PV sales data comprises cars, utility vehicles (UVs) and vans.
A total of 1,21,378 passenger cars were sold in the domestic market in June, up from 55,497 units in the like period of 2020.
Similarly, the sales of other sub-categories such as UVs and vans grew on a year-on-year basis.
As per the data, UV sales rose to 1,00,760 units from 46,201 units, while the off-take of vans rose to 9,495 units from 3,919 units in the year ago period.
SIAM said that the data does not include sales figures from some key players such as Tata Motors.
Domestic sales of two-wheelers also increased to 10,55,777 in June 2021 as compared to 10,14,827 units sold during the same period of 2020.
The overall domestic automobile sectors’ off-take representing the sales of passenger vehicles, two-wheelers and three-wheelers rose to 12,96,807 units from 11,30,744 units sold during the same period of last year.
Furthermore, exports too rose. The overall exports of two-wheelers and three-wheelers rose to 4,47,319 units from 2,46,190 units sold during the same period of last year.
For Q1FY22, the data showed that total domestic sales rose to 31,80,039 units from 14,92,612 units during the corresponding quarter of 2020-21.
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