Enchancment in provides of semiconductor chips in addition to continued surge in demand for SUVs and new fashions are fuelling the expansion, led by corporations akin to Tata Motors, Mahindra & Mahindra, Maruti, Hyundai and Kia.
In accordance with numbers launched by business physique Siam, wholesales of passenger automobiles have been up 23% at 1. 3 lakh models final month, as in opposition to 1. 1 lakh models within the year-ago interval. Dispatches of utility autos and SUVs have been hig-her by 20% at 1. 3 lakh models in August, as in comparison with 1. 1 lakh models in the identical month ayear in the past.
Complete two-wheeler wholesales elevated to fifteen. 5 lakh models final month, in comparison with 13. 4 lakh models within the year-ago interval, a progress of 16%. Bike wholesales grew by 23% at 10. 1 lakh unitsin August 2022, as in comparison with 8. 2 lakh models within the yearago month.
Scooter gross sales have been greater by 10% at 5 lakh models final month, as in opposition to 4. 6 lakh models in August 2021, Siam mentioned. Complete three-wheeler gross sales rose to 38,369 models final month, in opposition to 23,606 models in August 2021, a rise of 63%. Gross sales throughout segments rose by 18% to 18. 7 lakh models in August this 12 months, from 15. 9 lakh models in the identical month final 12 months.
“Whereas a very good monsoon and festive season is more likely to improve demand, Siam is protecting a detailed watch on the dynamic supply-side challenges,” auto physique’s DG Rajesh Menon mentioned.