India’s domestic passenger vehicle sales increased 12.73% in November. On Friday, data from an auto industry showed that the corona virus loosened lockdown and increased demand during the festive season. Automakers usually stock the dealership before the festive season of the country which starts in September and runs till November, during which Indians usually make big purchases. The Society of Indian Automobile Manufacturers (SIAM) said on Friday that total passenger vehicle sales increased to 2,85,367 units from 2,53,139 units in November. The increase comes after a 14.2 percent increase in October.
According to a report, SIAM Director General Rajesh Menon said that there has been some enthusiasm during the festive season, overall the economic scenario will further boost the performance of the industry. The Indian auto sector was already experiencing a huge slowdown in demand when the government implemented a nationwide lock-down in March to curb the spread of the corona virus, adding to the difficulties for businessmen.
Travel demand in private vehicles, seen as a safe travel option amid the epidemic, has boosted sales of small cars and motorcycles in the last few months. Sales of two-wheelers considered an indicator of the health of the rural economy, increased by 13% to 16,00,379. Wholesale sales for the April – November period, however, fell more than 20% from a year earlier.