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Pent-up demand drives vehicle sales in August

Passenger vehicle wholesales in India rose by 14.16% in August to 2,15,916 units driven by pent-up demand, industry body SIAM said on Friday.

According to the latest data by the Society of Indian Automobile Manufacturers (SIAM), passenger vehicles wholesales stood at 1,89,129 units in the same month last year.

Passenger vehicle sales have returned to positive territory in August after nine consecutive months of decline. It was in October last year that the segment had posted a marginal growth snapping 11 continuous months of decline in sales.

Passenger car sales last month stood at 1,24,715 units as compared with 1,09,277 units, up 14.13%. Similarly, utility vehicle sales increased by 15.54% to 81,842 units last month as against 70,837 units a year ago.