Wholesale sales of passenger vehicles grew by over 17 percent in January

Wholesale sales of passenger vehicles in the country grew by about 17.2 percent in January. Strong demand for utility vehicles and improvement in consumer sentiment have led to an uptick in sales. Wholesale sales of passenger vehicles increased to 2,98,093 units in January. In the same month last year, this figure was 2,54,287 units.

The Society of Indian Automobile Manufacturers (SIAM) had earlier reported that passenger vehicles sales grew by 22 per cent in January. SIAM said that the reopening of factories in China would increase the supply. Sales of utility vehicles have increased the most in January by about 28 percent. It has outpaced the growth in passenger car sales. However, two-wheeler sales grew by only 3.8 per cent in January. It had grown by 6.3 per cent during October-December. SIAM said that over the years two wheeler The sales growth has been lower as compared to other segments.

In January, there was a brake on the increase in sales of Electric Vehicles (EV). Last month, sales of electric passenger vehicles declined by 10.51 percent to 3,346 units. The segment’s largest company Tata Motor’s sales of electric passenger vehicles fell by 17 percent to 2,426 units. The company had sold 2,926 units in December. According to the Federation of Automobile Dealers Association, MG Motor’s sales declined by over 12.50 per cent to 425 units. However, in January some automobile companies EV There has also been an increase in sales. These include the Chinese company BYD. Its sales increased by 164 percent to 132 units. This company sold 50 vehicles in December. Luxury car maker BMW increased to 123 units.

Sales of Hyundai Motor’s electric passenger vehicles increased marginally to 111 units in January. The company had sold 91 units in December. Sales of electric commercial vehicles declined by more than 20 percent to 131 units in January. Sales of electric three-wheelers also declined by three percent in January. However, there was no major change in the sales of electric two-wheelers. In this category, 64,363 units were sold in January. It was 64,348 units in December.