Auto sales rise year-on-year but lag sequentially, November 2020 a mixed bag: SIAM

Releasing the November wholesale auto data on Friday, Society of Indian Automobile Manufacturers(Siam) said while the retail sales of two-wheelers lagged behind the wholesale sales numbers, the apex body hoped that it would even out over a period, as OEMs engage with their dealers.

By:December 12, 2020 11:27 AM

 

Auto sales (factory despatches to dealers) in November was a mixed bag for the industry with two-wheelers and passenger vehicles registering growth on a year-on-year basis but declining on a sequential basis. Sales of passenger vehicles clocked a growth of 4.65% year-on-year, while two-wheeler sales registered an increase of of 13.43%, primarily on account of the festival season. In October 2020, the domestic sale of passenger vehicles had grown by 14.19% while two-wheelers had grown by 16.88% on a Y-oY basis. The retail sales of automobiles for November 2020 were way behind the wholesale sales. Releasing the November wholesale auto data on Friday, Society of Indian Automobile Manufacturers(Siam) said while the retail sales of two-wheelers lagged behind the wholesale sales numbers, the apex body hoped that it would even out over a period, as OEMs engage with their dealers.

The November retail sales of two wheelers, commercial vehicles and three-wheelers fell by 21.4%, 31.22% and 64.98% YoY, respectively, according to vehicle registration data earlier released by the Federation of Automobile Dealers Associations (Fada). However, tractors and PVs grew by 8.47% and 4.17%, respectively. Siam said that while the festive season brought back some fervour in specific segments, the overall economic scenario would determine the industry’s performance going forward. Lagging behind yet again, the three-wheeler sales saw a decline of 57.64%, y-o-y. Overall, the total production of passenger vehicles, three-wheelers, two-wheelers and quadricycle in November marked a growth of 1.70%.

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