August auto sales: PV sales dip 1.8%, two-wheeler sales grow 9.3% on-year, says SIAM

Auto sales in August: While it was not the brightest of months for passenger vehicle sales, August saw decent growth for two-wheeler and three-wheeler segments, according to Society of Indian Automobile Manufacturers (SIAM) data for last month. 

When it comes to total production, August saw 24,91,263 units of passenger vehicles, three-wheelers, two-wheelers and quadricycles combined.

In the month of August, 3,52,921 units of passenger vehicles were sold, as compared to 3,59,228 in the year-ago period, registering a de-growth of 1.8 per cent. When it came to three-wheelers, 69,962 units were sold in August, as compared to 69,944 in the previous year, amounting to a growth of 7.7 per cent.

A total of 17,11,662 units of two-wheelers were sold in August as compared to 15,66,594 in the year-ago period, resulting in a growth of 9.3 per cent in the segment. Within two-wheelers, 6,06,250 scooters were sold last month, as against 5,49,290 in the year-ago period, registering a growth of 10.4 per cent. 

Only six quadricycles were sold last month, as compared to 110 the previous year, which is a de-growth of 94.5 per cent.

Rajesh Menon, Director General, SIAM said, “Looking ahead, as the country enters the festive season, demand for Vehicles is expected to grow, which will also be duly augmented by the recent announcements of PM E-DRIVE and PM-eBus Sewa Schemes of Government of India.”

The Cabinet this week approved the implementation of the ‘PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme' with an outlay of Rs 10,900 crore for two years to promote electric mobility in the country. Under this scheme, subsidies and demand incentives will be provided to electric two- and three-wheelers, e-trucks, e-ambulances and other emerging EVs. The government will introduce e-vouchers for EV buyers to avail demand incentives under the scheme.