Passenger vehicle (PV) wholesales (dispatches to dealers) in India rose 29 per cent year-on-year (YoY) to 2,91,113 units in October aided by robust demand in the festival season compared with 2,26,353 units in October 2021, the Society of Indian Automobile Manufacturers (SIAM) said on Friday.

The utility vehicle (UV) segment, again, has outsold the passenger car (PC) segment with 1,41,254 units during the month against 1,40,926 units of PCs.

In the two-wheeler segment, the scooter sales grew by seven per cent YoY to 5,12,761 units in October against 4,79,459 units in the corresponding month last year. But, motorcycle sales grew marginally at 10,20,295 units during the month as compared with 10,17,874 units in October 2020.

“Good market sentiments coupled with festival boost, resulted in higher sales in October, especially for PVs. Higher inflation and rising interest rates have impacted the rural market more, thereby returning marginal growth of the two-wheeler segment. Passenger three-wheelers is seeing better offtake due to increased shared mobility in semi-urban and urban areas,” said Vinod Aggarwal, President, SIAM.

The total three-wheeler dispatches grew by 70 per cent YoY to 54,154 units (31,812 units).

The grand total of sales across categories 19,23,032 units in October — up six per cent YoY from 18,10,856 units.

“Though the PVs have reported highest ever domestic sales in April to October period, sales of two-wheelers in these seven months of 2022 is still lower than that of 2016,” Rajesh Menon, Director-General, SIAM, said.

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