Improvement in supplies of semiconductor chips as well as continued surge in demand for SUVs and new models are fuelling the growth, led by companies such as Tata Motors, Mahindra & Mahindra, Maruti, Hyundai and Kia.
According to numbers released by industry body Siam, wholesales of passenger cars were up 23% at 1. 3 lakh units last month, as against 1. 1 lakh units in the year-ago period. Dispatches of utility vehicles and SUVs were hig-her by 20% at 1. 3 lakh units in August, as compared to 1. 1 lakh units in the same month ayear ago.
Total two-wheeler wholesales increased to 15. 5 lakh units last month, compared to 13. 4 lakh units in the year-ago period, a growth of 16%. Motorcycle wholesales grew by 23% at 10. 1 lakh unitsin August 2022, as compared to 8. 2 lakh units in the yearago month.
Scooter sales were higher by 10% at 5 lakh units last month, as against 4. 6 lakh units in August 2021, Siam said. Total three-wheeler sales rose to 38,369 units last month, against 23,606 units in August 2021, an increase of 63%. Sales across segments rose by 18% to 18. 7 lakh units in August this year, from 15. 9 lakh units in the same month last year.
“While a good monsoon and festive season is likely to increase demand, Siam is keeping a close watch on the dynamic supply-side challenges,” auto body’s DG Rajesh Menon said.