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Business EconomyPosted at: Aug 12 2022 3:33PM


Domestic passenger vehicles sales up

New Delhi, Aug 12 (UNI) The sale of domestic passenger vehicles reached 2,93,865 units in July 2022 this year as against 2,64,442 in the same period last year, the Society of Indian Automobile Manufacturers (SIAM) said on Friday.
SIAM data said that 1,43,522 units of passenger cars were sold in July 2022, up from 1,30,080 in the same period last year.
Similarly, 1,37,104 units of utility vehicles were sold in July compared to 1,24,057 in 2021 while 13,239 units of vans were sold against 10,305 in the same period last year.
A total of 31,324 three-wheelers were sold in July as against 18,132 in 2021. The sale of two-wheelers totalled 13,81,303 against 12,60,140 in the same month the previous year.
Rajesh Menon, Director General, SIAM, said: “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 vehicles to recover.''
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