PV production numbers up 7 percent in July: SIAM

Scooters and three three-wheelers lead the rally for July 2202 sales numbers showcasing a remarkable  28.32 percent and  72 percent spike as overall production in  passenger vehicles grew by 7.61per cent according to  Society of Indian Manufacturers (SIAM) data released suggests.

Three-wheelers numbers rose from 18,132 units on July 21 to total sales of 31,324 units in the current month with 22,427 passenger carriers 6,663 goods carriers 1,814 e-rickshaws and 420 e-carts sold in the current month.  E-rickshaws topped the sales charts with a whopping 80 percent increase in sales to 1814 units in the current month from 366 units in the earlier period.

Scooters led the rally with 28.32 percent in the two-wheeler sales for July 22 with net sales of scooters at 4,79,159 for the current month as against 3,73,695 units in the same period in the previous year.

Motorcycles were marginally up by 3.92 percent at 8,70,028 units on July 22 from 8,37,166 units in the year-ago period.

Two-wheeler sales were up by 9.61 percent to  13, 81,303 units of two-wheelers sold in the period of July 2022 as compared to 1,26,140 for the same period in the previous year. 

In PVs, Maruti Suzuki recorded domestic sales of  1,42,850 as against 1,33,732 units on July 21  registering a 6.81 percent. Its overall production, numbers were up by 16.5 percent at 443,331 units for the current month  as compared to 380,504 units on July 21  SIAM data shows.  

Hyundai Motors recorded domestic sales of 50,500 units for July 2022 as compared to 48,042 for July 21 adding  5.11 percent incline to its domestic sales, its production capacity grew by 10.2 percent from 1,22,500 units on July 22 as compared to 1,10,000 units in the same period last year.

Mahindra & Mahindra took the third position showcasing a sharp gain of 24 percent increase in domestic offtake for July 2022 to 28,053 from 21,046 for the corresponding period last year. Its production numbers have also shown a like-to-like improvement of 24 percent in the current month with production zooming ahead to 27450 units in July 2022 to 22016 units in July 2021.

Overall production in passenger vehicles was  up by 7.65 percent from 3,33,369  in the same period last year to 3,58,888 in July this year.

Rajesh Menon, Director General, SIAM stated that the market for entry-level passenger cars, two-wheelers, and three-wheelers has shown good progress but overall sales were much lesser as compared to  2006 levels. 

Menon also said "the recent hike in CNG prices was hurting the transporters but he thanked the government for its recent decision to allocate a higher amount of gas for domestic consumption".

The director general has said that the recent hike in repo rates by RBI  targeted to stem the inflationary growth will make auto loans more expensive and have an impact on the fortunes of overall offtake for domestic automakers.

Sales up
On the segment-wise sales front sales of passenger cars grew by 10.27 percent from 1,43,522 units of passenger cars sold in July 2022 versus 1,30,080 units in the same period last year, whereas sales of utility vehicles were marginally higher at 10.51 percent as 1,37,104 units of utility vehicles (UVs) were sold in the month of July versus 1,24,057 units in July last year.

On the exports front, passenger cars were up by a marginal 1.5 percent with exports of  35,639 units in July 2022 as compared to 34,993 on July 2021. UV Sales were up by 5.09 percent from 18,269 units in July as compared to 17383 units in the earlier period.

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