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The domestic wholesales (dispatches to dealers) of passenger vehicles (PVs) grew 9.40 per cent year-on-year (YoY) to 3,59,228 units in August, the highest-ever monthly sales, as compared with 3,28,376 units in the corresponding month last year.
Total two-wheeler sales also grew marginally (0.58 per cent YoY) at 15,66,594 units during the month as against 15,57,429 units in the same month last year, Society of Indian Automobile Manufacturers (SIAM) said in its monthly sales data on Monday.
Also Read | Passenger vehicle sales in July grow 2.57 per cent year on year
Total three-wheeler sales grew by 69 per cent YoY to 64,763 units in the domestic market as compared with 38,369 units in the corresponding month last year.
“Last month saw the highest ever August month sales for passenger vehicles and three-wheelers, while two-wheeler sales remained at levels similar to a year ago. We have also observed good growth in commercial vehicle segment in August 2023. Based on the performance of last month, we are even more optimistic for demand to pick up during the festive season, enabled by positive economic outlook and the revival of monsoon after a deficit in August,” Vinod Aggarwal, President, SIAM said.
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