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8 September 2016
Passenger
cars sales increased by 9.53% in August to 177,829 units from 162,360 units
sold during the corresponding month of last year, industry data showed on
Thursday.
The utility
vehicles' (UVs) off-take zoomed in the month under review by 47.38 per cent to
65,745 units, while van sales were up 2.52% to 15,148 units. The Total Investment & Insurance
Solutions
According to
Society of Indian Automobile Manufacturers (SIAM), the total passenger vehicle
sales, which includes cars, utility vehicles and vans, accelerated by 16.68% to
258,722 units last month.
Industry
data for August revealed that sales of overall commercial vehicles inched up by
1.53%. The segment is a key indicator of economic activity. The Total Investment & Insurance
Solutions
The
commercial vehicles segment's off-take for August 2016 stood at 52,996 units.
Three-wheelers
sales, logged a healthy growth of 9.01% to 50,193 units last month.
Overall,
sales of two-wheelers, which include scooters, motorcycles and mopeds, grew
exponentially. The segment's sales rose by 26.32 per cent to 1,648,883 units.
Product-wise,
scooter sales in the month under review grew by 32.92% to 567,782 units, whereas
the motorcycle sub-segment sales, logged a growth of 22.19% to 1,005,666 units.
Besides,
mopeds' off-take zoomed by 36.83% to 75,435 units.
However,
overall exports across categories declined by 14.52% to 309,215 units which
were shipped out during last month. The
Total Investment & Insurance Solutions
Total
automobile sales in August were higher by 23.72% to 2,010,794 units.
According to
Abdul Majeed, Partner-Price Waterhouse and an auto expert, OEMs (original
equipment manufacturers) sales to dealers increased significantly to cater to
consumer demand for passenger vehicles and two wheelers in the upcoming
festival seasons over the next three months.
"This
is backed by many positive factors such as good monsoon, overall positive
customer sentiment, better cash flows in the hand of the consumers and some new
launches at attractive prices by few OEMs," Majeed said.The Total Investment & Insurance
Solutions
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