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Passenger Car, Utility Vehicle Sales Rise By 14 Per Cent And 16 Per Cent In August After Nine Months Of Decline
Sales of cars hit a record last fiscal as the number of cars Indian roads zoom.
In a positive development for the economy, after a continued decline in wholesale sales of passenger cars for nine months, in August the sales figures jumped by 14 per cent year-on-year, reports Hindu Businessline.
Furthermore, the sales of utility vehicles registered an even stronger jump of 16 per cent in August month year-on-year. In total, the passenger car sales stood at 1,24,715 units and utility vehicle sales stood at 81,842.
SIAM's president Kenichi Ayukawa shared, "We are beginning to observe growth which is instilling the confidence back into the industry, especially in the two-wheeler and the passenger vehicles segment."
Meanwhile, the three-wheeler sales registered a major decline of 75 per cent year-on-year.
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