Wholesale sales of passenger vehicles more than doubled in May

Author: Nishu June 10, 2022

Wholesale sales of passenger vehicles more than doubled in May

Two-wheeler sales rose to 12,53,187 units in May from 3,54,824 units in the year-ago period.

Two-wheeler sales rose to 12,53,187 units in May from 3,54,824 units in the year-ago period.

Passenger vehicles for dealers in India grew more than two-fold last month on the back of the Covid-19-hit low of May last year.

According to the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle wholesale sales rose to 2,51,052 units last month as against 88,045 units in May 2021.

Two-wheeler sales rose to 12,53,187 units in May from 3,54,824 units in the year-ago period.

Similarly, the total number of three wheelers last month stood at 28,542 units as against 1,262 units in May 2021.

The total sales of PV, two-wheelers and three-wheelers increased to 15,32,809 units in May. In the previous year it was 4,44,131 units.

Rajesh Menon, Director General, SIAM, said, “Sales of two-wheelers and three-wheelers in the month of May 2022 remain sluggish, as they are lower as compared to 9 years and 14 years ago respectively.”

Similarly, sales of the passenger vehicle segment are also below 2018 levels, he said.

Menon said, “The recent government intervention will help mitigate supply-side challenges, but the second hike in repo-rates by the RBI and third-party insurance rates could be more challenging for customers, thereby Demand could be affected.”

The total production of passenger vehicles (excluding BMW, Mercedes, Tata Motors and Volvo Auto) three wheelers, two wheelers and quadricycles stood at 19,65,541 units in May 2022.

It was 8,08,755 units in the month under review a year ago, which saw massive disruption due to the second wave of the COVID pandemic in the country.

10 June, 2022, 4:41 pm

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