New Delhi: Automobile wholesales in July 2022 reported a growth of 10.6% to 1,706,545 units with year-on-year sales in the green across segments, according to the Society of Indian Automobile Manufacturers (SIAM).
In July 2021, the industry recorded total wholesales of 1,542,716 units. Total domestic wholesales for the month include passenger vehicles, two wheelers, three wheelers and quadricycles.
Passenger vehicle sales for the month went up 11.1% to 293,865 units in July 2022, as against 264,442 units in July 2021. This includes sales of passenger cars, utility vehicles and vans.
The SIAM data does not include sales of Tata Motors, BMW, Mercedes and Volvo Auto. It may be noted that auto major Tata Motors reported wholesales of 47,505 units during July 2022, and including this total PV sales would amount to over 3.4 lakh units.
During the month under review, total two wheeler sales were recorded at 1,381,303 as compared to 1,260,140 units in the year-ago period. The segment grew by 9.6% on a year-on-year basis.
Rajesh Menon, Director General, SIAM, said, “In July 2022, sales in the passenger vehicle segment stood at about 2.9 lakh units, in two-wheeler segment about 13.8 lakh units and in three-wheeler segment about 31,000 units. Market for entry-level passenger cars, two-wheelers and three-wheelers are yet to recover. Sales of two wheelers in July 2022 are still below July 2016 numbers and sales of three-wheelers are still below July 2006 numbers.”
“The third hike in a repo-rates in a row, to rein in high inflation, will make Auto loans costlier, making it more difficult for entry level vehicle sales to recover. SIAM would also like to whole-heartedly thank the Government of India for the recent decision to allocate a higher amount of domestic gas for the CNG segment. This would significantly bring down the input cost of gas companies. We hope that in line with the Government’s intent, the gas companies would pass on the entire benefit to the end consumers by reducing retail CNG prices,” he said.
Three wheeler sales in July 2022 reported a growth of 72.7% to 31,324 units as against 18,132 units in July 2021.
Domestic sales of quadricycles during the month stood at 53 units, up from just 2 units sold in July last year.
According to the industry body, the total production of passenger vehicles, three-wheelers, two-wheelers and quadricycles in July 2022 was 2,197,954 units.
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