Total passenger vehicle sales see highest-ever growth at 3,59,228 units in Aug: SIAM

Domestic sales (dispatches to dealers) of passenger vehicles (PVs) grew 9.40 per cent year-on-year (y-o-y) to 3,59,228 units in August, the highest-ever in monthly sales, compared to 3,28,376 units in the corresponding month last year.

PV sales were led by utility vehicles (UVs), which jumped by 34 per cent y-o-y to 1,35,497 units in August, compared to 1,81,825 units in August last year, said the Society of Indian Automobile Manufacturers (SIAM) in its monthly sales data on Monday.

Companies such as Maruti Suzuki India (MSIL) and Mahindra & Mahindra (M&M) recorded the highest-ever sale of UVs during the month. MSIL sold 58,746 units of UVs (versus 26,932 units in August 2022), while M&M sold 37,270 units from 29,516 units in August 2022.

Hyundai Motor India (HMIL) also had reported growth in its UV sales at 34,160 units during the month, against 26,566 units in corresponding month last year. According to Tarun Garg, Chief Operating Officer at HMIL, SUV sales contributes 64 per cent to the company’s total sales now. It received 65,000 bookings for its recently launched mini SUV Exter, which has a waiting period of six months.

• Also read: Passenger vehicle sales in July grow 2.57 per cent year on year

However, Kia India, which sells only SUVs, saw a drop in its sales to 19,219 units in August, compared to 22,322 units in August 2022.

In the two-wheeler segment, total two-wheeler sales also grew marginally (0.58 per cent y-o-y) at 15,66,594 units during the month, against 15,57,429 units in the same month last year, said SIAM.

While the scooter sales grew 9 per cent y-o-y to 5,49,290 units during the month, compared to 5,04,146 units in August 2022, motorcycle sales declined by more than 3 per cent to 9,80,809 units, against 10,16,794 units in same month last year.

Total three-wheeler sales grew by 69 per cent y-o-y to 64,763 units in the domestic market, compared to 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,” said Vinod Aggarwal, President, SIAM.