Passenger Vehicles sales in July down by 3.86%, industry sees ‘green shoots’ – Times of India

NEW DELHI: Passenger Vehicles sales in domestic market in July plunged by 3.86 per cent at 1,82,779 units against 1,90,115 units in a year-ago period, according to data released by SIAM on Tuesday.
The three-wheeler sales was at 12,728 units in July 2020 compared to 55,719 units in July 2019 marking a decrease by 77.16 per cent.
The two-wheeler sales was 12,81,354 units in July 2020, compared to 1,511,717 units in July 2019 marking a decrease by 15.24%.
“The month of July was significantly better than the preceding months and it instilled some confidence into the industry. Many OEMs have registered improved sales vis-à-vis the past few months, and this brings back a sentiment of resolve to the sector,” said Rajesh Menon, Director General, SIAM.
“After few consecutive of months of plummeted sales in a post-Covid scenario, there are signs of Green-Shoots in Passenger vehicles and Two-Wheelers, where the Year-on-Year de-growth is much lesser than the previous months. The sales numbers in the month of August would indicate, if this is a sustainable demand and not just a pent-up demand,” Rajan Wadhera, President, SIAM, said.