Industry quantity could be even larger at 355,043 models if the numbers from Tata Motors are included, the very best ever recorded within the nation — the earlier excessive was in July this 12 months, at about 342,000 autos. The maker of the Harrier and Nexon SUVs has stopped reporting month-to-month sales to the business physique.
These are wholesale numbers, as automakers don’t report deliveries to prospects.
Wholesales volumes within the passenger car section previously quarter too rose to a document 1,026,309 models. The earlier peak for 1 / 4 was 933,000 models, recorded in January-March 2021.
Demand for business autos remained regular in September, whereas the wholesale quantity of three-wheelers went up 73% to 50,626 models. In the two-wheeler section, sales grew 13% to 1,735,199 models.
“September month has been generally good for industry, as the passenger vehicle segment has recorded the highest ever sales in H1 and the commercial vehicle segment has started showing trends of better market demand,” SIAM director-general Rajesh Menon stated. But he added: “Off-take of entry-level two-wheelers and entry-level passenger vehicles has been of concern, especially as the rural demand has not picked up.”
The business physique urged the federal government to not implement any additional laws within the two-wheeler section and to limit subsequent hikes in insurance prices to forestall any extra hostile affect on shopper sentiment on the entry degree.
In the last quarter, two-wheeler sales rose 13% to 4,673,931 models, in contrast with 4,136,484 models within the second quarter of the last monetary 12 months. Commercial car sales grew 39% to 231,880 models on the again of demand for mild CVs.
SIAM president Vinod Aggarwal stated: “There is an improvement seen across the segments in Q2 of 2022-23, compared to the previous year. We are hopeful that the industry will do well in the month of October, which has two major festivals of Dussehra and Diwali.”
Total sales across categories increased to six,052,628 models last quarter, as towards 5,115,112 models a 12 months earlier.
Aggarwal, nevertheless, stated latest enhance within the worth of CNG gasoline, larger rates of interest and the Russia-Ukraine battle have been issues that would affect the market within the coming months.
