Auto Sales Rise In November Due To Excess Supply

Automobile sales grew 28% year-on-year in November as demand remained strong post-festive season amid improving supply.

According to data from the Society of Indian Automobile Manufacturers (SIAM), 276,231 passenger vehicles were sold last month, up from 215,626 units a year ago. If 46,425 units of Tata Motors vehicles are added, the increase would be 32%. Tata Motors does not report sales to SIAM on a monthly basis.

While passenger car sales rose 29% to 130,142 units in November, utility vehicle sales rose by nearly a third to 138,780 units.

Vehicle manufacturers in India mostly report dispatches from factories to dealerships and not retail sales to customers.

SIAM President Vinod Agarwal said, “The positive consumer and business sentiment is reflected in better sales in November 2022 as compared to last year. We see a sequential decline in October 2022 due to weather and softness in key export markets.”

Three-wheeler sales more than doubled to 45,664 units in November. In the two-wheeler segment, wholesale sales grew by 16.5% to 1,236,190 units last month. While motorcycle sales grew by 12.7% to 788,893 units, scooters grew by 29% to 412,832 units.