Base Effect Pushes India's Domestic Passenger Vehicle Sales Higher in June
The base effect, along with low interest rates and pent-up demand, pushed India's domestic passenger vehicle (PV) sales higher in June on a year-on-year (y-o-y) basis.
 
Sales of passenger vehicles increased to 231,633 units last month compared to 105,617 units sold during the same period of 2020.
 
The Society of Indian Automobile Manufacturers (SIAM), however, said that y-o-y data cannot be compared due to last year's national lock-down and the regional restrictions in 2021.
 
The PV sales data comprises cars, utility vehicles (UVs) and vans.
 
A total of 121,378 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 y-o-y basis.
 
As per the data, UV sales rose to 100,760 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 1,055,777 in June 2021  compared to 1,014,827 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 1,296,807 units from 1,130,744 units sold during the same period of last year.
 
Furthermore, exports too rose. The overall exports of two-wheelers and three-wheelers rose to 447,319 units from 246,190 units sold during the same period of last year.
 
For Q1FY22, the data showed that total domestic sales rose to 3,180,039 units from 1,492,612 units during the corresponding quarter of 2020-21.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
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