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Wednesday, February 28, 2024

2.91L passenger vehicles sold in Oct: SIAM


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New Delhi: Boosted by festive season, all passenger vehicles sales registered a significant growth in October this year, a report from the Society of Indian Automobile Manufacturers (SIAM) said on Friday.

As per the data of SIAM, a total of 2,91,113 passenger vehicles were sold in October this year as against 2,26,353 vehicles sold in the same month in 2021.

The total sales of three wheelers in October stood at 54,154 as against 31,182 units sold in the same month last year, while 15,77,694 units of two wheelers were sold in October this year as compared to 15,52,689 units in the corresponding period last year.

Commenting on the sales report, Vinod Aggarwal, President, SIAM said: “Good market sentiments coupled with festive boost, resulted in higher sales in October, especially for passenger vehicles.

“Higher inflation and rising interest rates have impacted the rural market more, thereby returning marginal growth of the Two-Wheeler segment. Passenger ThreeWheelers is seeing better off-take due to increased shared mobility in semi-urban and urban areas.”

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