Positive consumer and business sentiments reflected in better automobiles sales in the domestic market in November, compared to the same month in the previous year, according to Society of Indian Automobile Manufacturers (SIAM) data.

Total passenger vehicle (PV) wholesales (dispatches to dealers) rose 28 per cent year-on-year (YoY) in November to 2,76,231 units aided by robust demand for both utility vehicles (UV) and cars, compared with 2,15,626 units in November 2021.

The UV segment grew by 32 per cent to 1,38,780 units (1,05,091 units).

“Positive consumer and business sentiments has reflected in the better sales in the month of November, compared to the previous year. We note a sequential decline over October 2022 attributable to seasonality and softness in key export markets,” Vinod Aggarwal, President, SIAM, said.

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2W sales

Two-wheeler sales saw double-digit growth during the month with motorcycle sales growing 13 per cent to 7,88,893 units compared with 6,99,949 units in November last year. The scooter segment grew 29 per cent to 4,12,832 units (3,18,986 units).

Led mostly by electric vehicles, three-wheeler sales more than doubled to 45,664 units in November against 22,551 units in the same month the previous year.

However, both three-wheeler and two-wheeler sales are still lower than the previous records, said Rajesh Menon, Director-General at SIAM.

“Passenger vehicles posted highest ever sales in FY2022-23 till November, while the three-wheelers are still lower than 2010-11 and two-wheelers are less than 2016-17. Higher interest rates and increase in long term insurance premium, continues to be a concern for the consumers,” he said.

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