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Commercial vehicle sales fall 20% in July-September: SIAM

Commercial vehicle sales, which are usually seen as an indicator of economic activity, fell 20.13% to about 1.33 lakh units in the July-September 2020 quarter as compared with about 1.67 lakh units in same period last year.

SIAM has begun releasing wholesales CV sales data only for the full quarter. For the CV segment, the volumes are lower than in the comparable period of FY16, SIAM president Kenichi Ayukawa said. Meanwhile, passenger vehicle (PV) dispatches to dealers recorded a strong double-digit growth of 26.45% in September.

 

While cars sales rose 28.92% to more than 1.63 lakh units in September 2020 from about 1.27 lakh units in the year earlier month, sales of utility vehicles and vans increased 24.5% to 96,633 units and 10.64% to 11,413 units, respectively. Two-wheeler sales grew 11.64% to more than 18.49 lakh units as against over 16.56 lakh units in the same month last year. Data showed a year-on-year growth of 17.30% for motorcycles to over 12.24 lakh units and a marginal increase in sales of scooters at about 5.56 lakh units.

Three-wheeler sales plunged almost 72% to 18,640 units in September as against 66,362 units in the year-ago month.

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Printable version | Dec 5, 2020 7:54:47 PM | https://www.thehindu.com/business/Industry/commercial-vehicle-sales-fall-20-in-july-september-siam/article32876406.ece

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