Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

In India, passenger vehicle (PV) and two-wheeler sales witnessed growth in August 2020 according to data released by Society of Indian Automobile Manufacturers (Siam).


In August, total domestic sales including production of PVs, three-wheeler, two-wheelers and quadricycles, slipped to 2,162,367 down 3.09pc from the prior year.


Sales of PV rose by 14pc in the domestic market with 215,916 units sold compared to the previous year. Sales of two-wheeler moved higher by 3pc in August from the prior-year to 1,559,665 units. 


Director of Siam, Rajesh Menon said that August witnessed improvement in auto sales of two-wheelers and PVs after a period of lull owing to COVID-19 lockdowns. The three-wheeler segment continues to fall by more than 75pc from the previous year. The auto industry is however, positive that festive season will revive the industry. 


Growth in sales is instilling confidence in to the industry with each passing month, especially for PV segment. Siam President, Kenichi Ayukawa, said that despite August year-on-year growth in auto sales, sales in August 2019 itself was very low when it recorded a degrowth of 32pc for PVs and 22pc for two-wheelers. 


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