The festive season is on the verge and automobile industries are looking forward to getting back on track after falling into a deep pit due to COVID. With no sales of cars during the lockdown period, car companies reported higher deliveries to the dealership in anticipation of higher demand. Passenger vehicle deliveries increased by 26% to 2.7 lakh units in the same month last year, according to the number released by industry body Siam.
Commercial Vehicles and Three-wheeler showed a visible depression in their sales but three-wheelers took the bigger blow as its sales witnessed sales rate of – 74.63% while commercial vehicles took a blow of - 20.13% in domestic sales.
Two-wheeler sales did almost the same as it did in 2019 with a growth rate of 0.17%. Considering the fact that two-wheelers form the majority of the automobile sales share, good growth would be deemed as necessary for the sector to get back up.
The rise and slump which can be seen in the automobile sector did not come by surprise: Key Points
- Passenger Vehicle sales were 726,232 units in September 2020, compared to 620,620 units in September 2019, with a growth of 17.02%.
- Commercial Vehicle sales were 133,524 units in September 2020, compared to 167,173 units in September 2019, with a de-growth of (-) 20.13%.
- Three-wheeler sales were 45,902 units in September 2020 compared to 180,899 units in September 2019 marking a decrease by (-) 74.63%.
- Two-wheeler sales were 4,690,565 units in September 2020, compared to 4,682,571 units in September 2019, with a marginal growth of 0.17%
- Everyone’s staring at the festive season that is coming ahead as a boon for their industry. It will be a sight worthy of attention when these sales go live.
