SIAM: Passenger vehicle sales more than double in March

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Sales of cars, utility vehicles and vans in the local market more than doubled last month, albeit on a low base, driven by pent-up demand and consumer preference for personal mobility amid the outbreak of the coronavirus pandemic.

According to data released by industry body Society of Indian Automobile Manufacturers (SIAM), passenger vehicles last month stood at 290,939 units as against 135,196 units sold in the year-ago period.

The data does not include volumes of

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, which has stopped reporting sales data on a monthly basis to SIAM.

However, despite the quick recovery seen in the passenger vehicle segment the past few months wholesale volumes for the entire financial year declined by around 2% to about 2.71 million units. This is nearly 700,000 units short of peak sales of 3.38 million units reported in FY19. Two-wheeler sales last fiscal too contracted by 13% to 15.1 million units.

Two-wheeler sales last month increased 73% to 1,496,806 units. Sales of three-wheelers in the period under review rose 15.7% to 31,930 units.

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