The total production of Passenger Vehicles, Three-wheelers, Two-wheelers and Quadricycle in September 2020 was 2,619,045 units, against 2,344,328 units in September 2019 with a growth of 11.72%.
Sales of two-wheelers in the domestic market are starting to show clear signs of a healthy recovery after suffering a substantial decline, especially during the lockdown period due to the ongoing coronavirus pandemic. Comparing the sales of two-wheelers last month to the same month last year, there was a growth of 11.64% (September 2019 – 1,656,658, September 2020 – 1,849,546). Two-wheeler production in September 2019 stood at 1,954,878 units and has now grown by 14.81% with production of 2,244,453 units in September 2020.
Exports also experienced positive growth. While exports of two-wheelers amounted to 303,424 units in September 2019, their number increased by 9.17% to reach 331,233 units in September 2020.
In terms of different segments, scooters and scooters grew only 0.08% from September 2019 to the same month in 2020. There was a 17.3% growth for motorcycles and midsize vehicles that sold 1,043,621 units in September 2019 and 1,224,117 units in September 2020. Moped sales increased 20.33% last month with 57,283 units sold in September 2019 and 68,929 units in September 2020.
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While two-wheeler sales performed well in September 2020, sales in the third quarter (July to September 2020) saw growth of 0.17% which includes a 15.96% drop in scooter sales. and scooters (from 1,603,156 units in Q3 2019 to 1,347,341). units in Q3 2020). Motorcycle sales increased 7.89% from 2,915,128 in the third quarter of 2019 to 3,145,113 units in the third quarter of 2020.
During the period from April to September 2020, total sales of two-wheelers in the domestic market amounted to 5,983,678 units, a decrease of 38.28% compared to 9,695,638 units at the same period last year. The biggest drop in sales during this period is in the scooter segment which recorded a drop of 45.9% over the period from April to September 2020.
India’s auto industry is working hard amid this difficult COVID-19 situation to increase production and sales while ensuring the safety of customers and employees throughout the value chain. During the second quarter, some segments showed signs of recovery, said Kenichi Ayukawa, president of SIAM.
Passenger vehicles and two-wheelers are positive, although on a very low basis compared to the previous year. We expect good demand during the holiday season starting tomorrow. Thanks to government intervention, auto loan interest rates are below 8%, the lowest in a decade, and this should encourage customers to buy new vehicles. Sales of utility vehicles and three-wheelers are still in a negative growth area, he added.
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