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Heavy boom seen in vehicle segment compared to last year

According to data from the Society of Indian Automobile Manufacturers (SIAM), the total sales of passenger vehicles in India increased to 11.14 percent as compared to the previous month, which is 2,76,554 units. Whereas in January 2020, passenger vehicle sales were 2,488,40 units.

According to the data, two-wheelers in January 2020 increased by 6.63 percent to 14,29,928 units as compared to 13,41,005 units. In January 2020, motorcycle sales increased by 5.1 percent to 9,16,365 units as against 8,71,886. Talking about the scooter, the scooter sales have increased by 9.06 per cent to 4,54,315 units as compared to 4,16,567 units in January last year

However, three-wheeler sales fell by 56.76 percent to 26,335 units as compared to January last year. Which is 60,903 units in January last year. Vehicle sales increased by 4.97 percent to 17,32,817 units in the period last month. Whereas it was 16,50,812 units in the same period a year ago.

At the same time, according to the Federation of Automobile Dealers Associations of India (FADA), there was a huge increase in the sale of vehicles in December. After which once again, the sale of two-wheeler, three-wheeler, commercial and passenger vehicles has been recorded in the month of January. According to FADA data, these segments recorded a decrease of -8.78%, -51.31%, -25% and -4.46% respectively. In which, interestingly, despite the decrease in every segment, the tractor segment has recorded a growth of 111%.   

While Fada reported a poor January performance in the month-on-month report, SIAM released the data with growth year after year. From this, it can be clearly said that the automobile sector is turning every month. However, in January, companies have increased their prices, which has quite affected the sell.

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