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.
Data released by the Society of Indian Automobile Manufacturers (SIAM) also showed that among two-wheeler segment, motorcycle sales grew by 10 per cent year-on-year to 10,32,476 units in August, while the sales of scooters witnessed a 12 per cent decline.
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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