New Record in Vehicle Sales

India’s domestic automobile industry recorded its best ever July sales, with strong double digit growth across all major segments. Passenger vehicle (PV) sales rose 34.3% year on year to 4,57,810 units, compared with 3,40,772 units in July last year, according to data released by the Society of Indian Automobile Manufacturers (SIAM).

Two-wheeler sales increased 22.6% to 19,23,483 units, while three wheeler sales grew 33.4% to 92,560 units. SIAM Director General Rajesh Menon said the positive trend seen in recent months is continuing as the industry enters the festive season. He expressed confidence that strong consumer sentiment will support automobile sales in the coming months.