14.16% YoY growth in passenger vehicle sales in August: Industry body
New Delhi | Jagran Business Desk: The Society of Indian Automobile Manufacturers (SIAM) on Friday said that the sale of passenger vehicles registered a growth of 14.16 per cent in the month of August 2020. However, the total exports of passenger vehicles, three-wheelers and two-wheelers witnessed a decrease of 45.17 per cent, 13.61 per cent, and 14.23 per cent in the same month, respectively.
"Passenger Vehicles sales was 2,15,916 units in August 2020, compared to 1,89,129 units in August 2019, marking a growth of 14.16 per cent. Total exports of Passenger Vehicles, Three-wheelers and Two-wheelers witnessed a decrease of 45.17 per cent, 13.61 per cent and 14.23 per cent respectively in August'20, as compared to August'19," SIAM said.
The sale of passenger vehicles in July'20 fell 3.86 per cent to 182,779 vehicles. However, the growth in August is being seen as a recovery sign in the country's economic growth which came down over 23 per cent mainly due to the coronavirus induced shutdown.
Posted By: Shashikant Sharma