SIAM reports growth in wholesale auto sales in Aug; warns of high base effect, pent-up demand



the roof of a building: SIAM reports growth in wholesale auto sales in Aug; warns of high base effect, pent-up demand


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SIAM reports growth in wholesale auto sales in Aug; warns of high base effect, pent-up demand

Passenger vehicle and two-wheeler sales showed improvement in the month of August, data released by the Society of Indian Automobile Manufacturers (SIAM) indicated.

While passenger vehicle sales stood at 2,15,916 units in August 2020, a 14.16 percent growth YoY, two-wheeler sales were up a marginal 3 percent at 15,59,665 units. Wholesales in the three-wheeler category fell sharply by 75.29 percent.

However, wholesale figures across segments showed a steep double-digit decline in the April-Aug period. SIAM no longer posts monthly commercial vehicle sales data.

Despite the positive wholesales numbers, the auto industry is nowhere close to its peak-2018 levels.

“Even though the industry witnessed year-on-year growth in August 2020, it

is to be recognized that the base figures in August 2019 itself was very low, as Industry had shown a de-growth

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Wholesale dispatches of PVs spike 14% in Aug

India’s passenger vehicle and two-wheeler sales accelerated in August for this first time this fiscal offering relief to automakers wracked by disruptions from the coronavirus pandemic. The sales boost came as companies sought to replenish dealer stocks to meet a potential spurt in demand during the festival season. A lower base of the year-earlier month also helped.

Sales of cars, utility vehicles, and vans grew 14.1% year-on-year (y-o-y) in August to 215,916 units, according to data released on Friday by the Society of Indian Automobile Manufacturers (Siam). Continued demand for compact cars and entry-level utility vehicles is driving sales growth, the data showed. Sales are counted as wholesales dispatches and not retail sales.

“We are beginning to observe growth which is instilling confidence in the industry, especially in the two-wheeler and the passenger vehicle segments,” said Kenichi Ayukawa, president, Siam.

“The industry witnessed y-o-y growth in August 2020, but it

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