With strong demand for utility vehicles (UV) and better consumer sentiment, the wholesale passenger vehicles sales volume in India rose 17.2% in January, said Society of Indian Automobile Manufacturers (SIAM) said on 13 January.
According to SIAM data, the wholesale passenger vehicle volumes rose to 298,093 units – a record-high for January – from 254,287 units a year ago.
Earlier in February, the Federation of Automobile Dealers Associations (FADA) said passenger vehicle sales grew 22% in January and added that the reopening of factories in China would help improve supply.
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Among other details, SIAM data said that the now-popular and mostly pricier UVs’ sales climbed around 28% and continued to outnumber that of passenger cars in January.
“Better consumer sentiment is driving demand for passenger vehicles,” SIAM President Vinod Aggarwal said.
In the meantime, the two-wheeler sales, were up only 3.8% for the month, compared to a 6.3% rise in the October-December festive period.
“The rate of growth of two-wheelers in the recent year has not kept pace with the growth in the other segments,” Aggarwal said.
With Reuters inputs.
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