Passenger vehicle despatches (PVs) witnessed a strong growth in October on the back of early festive demand and the impact of GST 2.0 reforms. Data released by the Society of Indian Automobile Manufacturers (SIAM) on Friday showed that PV wholesales rose 17% year-on-year to 460,739 units from 393,238 units a year ago.
SIAM Director General Rajesh Menon said the festive demand played a crucial role in pushing sales upwards, while the GST rate cuts effective September 22 further encouraged buyers. “Passenger vehicles, two- and three-wheeler segments posted their highest ever despatches to dealers in October, primarily buoyed by the festive demand and the recent GST rate reduction, despite being constrained due to certain logistic limitations,” he added.
Two-wheeler sales recorded a 2% growth to 2,210,727 units during the month from 2,164,276 in the same month last year, data showed. While scooter despatches grew 14% to 824,003 units, motorcycle sales slipped 4% to 1,335,468 units.
The three-wheeler segment also showed positive movement, with despatches increasing 6% to 81,288 units in October against 76,770 a year ago. The growth was primarily supported by higher demand for both passenger and goods carriers, though electric variants such as e-rickshaws and e-carts recorded a decline.